In the case of M/S Anil Rice Mill vs State of U.P. and Others, the Allahabad High Court ruled that merely providing tax invoices and e-way bills is not sufficient to claim Input Tax Credit (ITC). The assessee must also establish the genuineness of the transaction and prove the physical movement of goods with supporting documents such as freight charges, delivery acknowledgements, and GSTR 2A filings. The court upheld the denial of ITC due to a lack of evidence.

In M/s. Shobika Impex Pvt. Ltd. vs. Commissioner of GST & Central Excise, Trichy, the key issue was the recovery of refunded CENVAT credit without issuing a show cause notice. The Tribunal ruled that this violated the principles of natural justice, emphasizing that procedural lapses should not lead to the denial of substantial benefits. The case was remanded for fresh consideration, highlighting the importance of due process and transparency in tax refund claims.

The goods and services tax (GST) system in India through the GST network (GSTN) is changing in a big way with the introduction of the invoice management system (IMS). This is an advanced system, which will start operating on October 1, 2024 .

The ruling made by the Rajasthan High Court is significant; it overturned the decision of the Appellate Authority, which had denied a refund claim under the 'Inverted Tax Structure' based on a circular. This case heavily depended on the authority's reliance on a circular that restricted the simplicity of refunds, which led to an appeal by the taxpayer.

In the case of National Plasto Moulding Vs. State of Assam & Ors., the Gauhati High Court addressed whether purchasing dealers can be denied Input Tax Credit (ITC) if the selling dealer fails to deposit the collected tax.

Adani Ports and Special Economic Zone (APSEZ) have developed the Vizhinjam Port, which has received its first container vessel. This development marks a historic milestone for India's maritime infrastructure. The deep-draft port is located strategically close to the international shipping route and is equipped with modern facilities that will change the dynamics of trade, promote economic growth, and enhance India's global trade competitiveness. The Vizhinjam Port, with sustainable development, will place the state on the road toward becoming a key gateway for Southern India and an important player in global maritime activities.

The Central Government has appointed Retired Justice Sanjay Kumar Mishra as the President of the Goods and Services Tax Appellate Tribunal (GSTAT) on 1st May, 2024. The appointment of the President for GSTAT is a key development in the establishment and functioning of the tribunal, which will play a crucial role in resolving disputes related to the Goods and Services Tax (GST).

ICICI Bank and MY GST Refund have partnered to offer Indian businesses exclusive benefits, including a 10% discount on GST services, a free first GST notice reply, and access to a complimentary GST refund calculator.

The Delhi High Court has made a significant ruling that could have broad implications. They have determined that refusing a taxpayer's Input Tax Credit (ITC) refund solely based on unauthenticated documents is considered "procedurally unfair".

Explore whether senior citizens are exempt from advance tax in India. Understand the nuances, pension income relief, and key considerations. Stay informed with our guide.

Indian taxpayers set a new record with 8.18 crore income tax returns filed by December 31, 2023, a 9% increase from the previous year. Boosted by targeted outreach and transparency tools, this surge reflects growing awareness, potentially increasing government revenue for improved public services.

Explore recent ITA changes for rental income and tax deductions. New TDS rates: 2% for equipment, 10% for property. Exemption for rent below Rs. 1.8 lakh, but high earners must deduct TDS. 'Rent' definition broadened. Compliance is key for all. Consult a tax advisor for details.