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GST ASSESSMENT NOTICES
Want to exchange old gold for new jewellery? Beware of these taxesIndians exchanging old gold for new should be aware of potential taxes on sales and purchases. The Income Tax Department monitors high-valu...- GST dept issues tax demand of Rs 124 crore to Spicejet, slaps showcause notice for delay in return filingThe GST department has levied a significant tax demand of Rs 124.65 crore on SpiceJet. This action follows the airline's failure to file Go...
- Byju gets jail term; SC backs 28% gaming GSTLegal troubles compounded for Byju Raveendran as a Singapore court sentenced him to six months in jail. This and more in today’s ETtech Top...
- Insurance dark patterns: How customers pay higher premiums and buy unnecessary add-ons online, explain Deloitte India’s Aakash Sharma & Suchintan ChatterjeeDeloitte India’s Aakash Sharma & Suchintan Chatterjee talk to Yasmin Hussain on insurance dark patterns.
- GST fault line: Supreme Court to rule if taxman can bundle years into one sweeping show-cause noticeThe Supreme Court is set to decide if tax authorities can issue a single show-cause notice for multiple financial years. This procedural is...
- SBI receives Rs 6,338 crore income tax demand for AY24State Bank of India is contesting a Rs 6338 crore income tax demand for assessment year 2023-24. Meanwhile, IDBI Bank faces a Rs 5.5 crore ...
- There’s no free digital lunch: Why India must rethink UPI’s zero-fee modelSmall merchants are facing unexplained fees on UPI transactions, linked to RuPay credit card MDR. While UPI was promoted as free, these cha...
- Karnataka witnesses 5-fold jump in GST tax evasion at Rs 39,577 cr in FY25Central GST officers in Karnataka uncovered a significant surge in tax evasion, detecting Rs 39,577 crore in the 2024-25 fiscal year. This ...
- Swiggy faces Rs 158 crore tax demand, plans to appealSwiggy received an assessment order for Rs 158.25 crore unpaid dues, citing tax issues on cancellation charges and interest income. This re...
- Big GST relief in budget 2024: No need to pay interest and penalty for these GST noticesBudget 2024: Relief for GST registered individuals and companies. "The waiver of interest and penalties for tax disputes faced by genuine t...
- Budget 2024: No GST demand notice to be issued beyond 42 months from the due date of filing annual return; Know how it will help youGST: Now demand notices of GST cannot be issued beyond 42 months from the due date of filing GST annual return. Moreover, GST demand orders...
- Less than 2% assessees under CGST gets notice, working to make taxpayers life easier: FM SitharamanAddressing the media post the GST Council meeting, the Minister said as of December 31, 2023, only 1.96 per cent of all active tax assessee...
- CBIC working to weed out duplicate noticesCourts have made adverse comments in many such cases of parallel investigations. The matter was discussed at a recent meeting of enforcemen...
- I-T Dept moves Bombay HC against tribunal's order in favour of LIC in Rs 4,993 crore tax disputesThe Income Tax Department has filed an appeal with the Bombay High Court against an appellate tribunal ruling in favor of Life Insurance Co...
- I-T pegs tax evasion by insurance companies, intermediaries at ₹30,000 crThe department is in the process of sending tax demand notices to these entities to recover the dues, people aware of the details told ET. ...
- System error: How automated notices under GST is leading to proliferation of disputes and litigationsThis has resulted in a significant spurt in the issue of show-cause notices on taxpayers without any intervention of the tax officers, but ...
- Notices to firms after mismatch in GST tax creditsThe GST framework allows companies to set off part of their future tax liability against GST paid by them on the raw materials sourced from...
- Faceless GST assessment being weighedThe move will be along the lines of the facility for assessment of income tax and customs and is expected to make adjudication and scrutiny...
- GST returns not filed? The taxman can freeze your bank accountThe CBIC, in a three-page SOP issued on Tuesday has decided to go strong against "defaulters".
- Revenue authorities step up efforts to make businesses file GST returns within deadlineThe due date for filing GST summary returns for a month is 20th day of the subsequent month, but many businesses registered under the GST f...
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