Central Excise & Service Tax Supreme Court of India held that Penalty can’t be imposed on assessee if issue of nexus of valuation was a controversial issue during relevant period.
GST High Court of Telangana held that where assessee’s ITC account was blocked by revenue without following statutory requirements under CGST Act, 2017 and rules framed therein, Impugned notice of blocking the ITC was clear in contravention to provisions of CGST and TSGST Acts and was therefore to be set aside.
INSOLVENCY AND BANKRUPTCY CODE NCLAT- New Delhi in a recent judgment directed the liquidator to proceed with liquidation proceedings even where during liquidation, respondent failed to submit a final settlement proposal of its dues in respect of statutory creditor (GST Department) after multiple time extensions and filed an appeal before CESTAT in terms of its …
Customs: Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver is revised. [Notification No. 86/2023-Customs 28 November 2023]
Customs: Anti-dumping duty is imposed on imports of ‘Natural Mica-based Pearl Industrial Pigments excluding cosmetic grade’ from China. [Notification No. 13/2023-Customs (ADD) 22 November 2023]
GST: Advisory issued for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before 31 March 2023 [GSTN Advisory dated 28 November 2023]
GST: High Court of Rajasthan has held Simultaneous SCN on same subject matter by State and Central authorities is contrary to Section 6(2)(b) of the Act, 2017. The High Court directed the Respondents not to pass final orders till next hearing.
Judicial Corner : GST High Court of Madras held SCN was illegal and contrary to law where assessee through show cause notice was denied transfer of TDS from pre-GST era to post-GST era and the assessee was made entitled to transition TDS
Judicial Corner : GST High Court of Madras has held that where company was in process of liquidation and Official Liquidator was appointed, revenue should have approached Official Liquidator to recover sales tax dues, if Official Liquidator would determine that company has no sufficient funds to settle sales tax dues, then revenue may proceed against …
Judicial Corner : GST: High Court of Delhi incase of Refund of unutilized ITC held that the Deficiency Memo is bereft of any specific details – Merely mentioning that relevant supporting documents are not attached/are incomplete wouldn’t render the application deficient.
Judicial Corner : • High Court of Jharkhand holds that issuance of DRC-07 within five days of issuance of DRC-01 is a clear picture of violation of principles of natural justice and quashes the demand order.
Customs: Anti-dumping duty on “Synthetic Grade Zeolite 4A (Detergent Grade)” import from China PR is extended for further period of 5 years. [Notification No. 12/2023-Customs (ADD) 21 November 2023]
FTP/DGFT: Export of Onion is made free subject minimum export price (MEP) of USD 800 FOB per Metric Ton till 31st December 2023. . [Notification No. 45/2023 23 November 2023]
RBI: The permission granted to AD Category-I banks to open an additional special current account for exporters to settle export transactions in INR. [FED Circular No. 08 dated: 17 November 2023]
Income Tax: CBDT has issued a corrigendum to Notification No. 4 of 2021, dated 15 November 2021 for changes in the format, procedure, and guidelines for the submission of the Statement of Financial Transactions (SFT) concerning Mutual Fund Transactions by Registrar & Share Transfer Agents (RTAs).[Corrigendum dated: 15.11.2023]
Customs: An anti-dumping duty is imposed on “Toughened Glass for Home Appliances” imported from the People’s Republic of China for a period of five years. [Notification No. 11/2023-Customs (ADD) dated: 17 November 2023]
FTP/DGFT: Import policy condition for gold under HS Code 71081200 has been amended to allow valid India-UAE TRQ holders as notified by IFSCA can import gold through IIBX against the TRQ and can obtain physical delivery of the same through IFSCA registered vaults located in SEZs as per the guidelines prescribed by the IFSCA. [Notification …
GST: Biometric-based Aadhaar authentication for GST registration is made mandatory in the State of Andhra Pradesh. Previously, the same requirement was notified for the States of Gujarat and Puducherry. [Notification No. 54/2023-Central Tax, dated 17 November 2023]
Central Excise CESTAT Ahmedabad has held that once the goods are used for manufacture of final products or for provision of taxable services, credit can be allowed. CESTAT Chennai held that imposing Penalty is not sustainable when there is no allegation in SCN that appellant availed credit or utilized the same. CESTAT Delhi held that …
GST • High Court of Andhra Pradesh passed a recent judgement where the Order was set aside and fresh proceeding were directed to be initiated as DRC-01A was not issued where it was mandatory. • Delhi High Court held that Merely because assessee had not furnished any return for a period of six months, same …
