High Court directs GST authorities to correct its mistake, not to levy penalty on taxpayer Aug 26, 2017
Hon Allahabad High Court has directed the GST Authorities to rectify the mistake done in registration while migrating the taxpayer within 2 weeks and also directed to not to take penal action against the petitioner on non filing of the GST return and deposit of tax thereon.
Petitioner :- M/S Modern Pipe Industries was a registered partnership dealer under the U.P. Value Added Tax Act, 2008. With the enforcement of the Goods and Service Tax, petitioner sought its migration under Section 139 of the Act.
The migration has been permitted but instead of registering the petitioner as a partnership firm it has been registered as sole proprietor by GST authorities. The petitioner applied for rectification/amendment but the rectification /amendment is not being allowed and now online application has been closed.
Local GST authorities of UP State stated that the Joint commissioner (IT) in the office of the Commissioner State Tax, Lucknow is expected to issue new GST ID/pass word to the petitioner as a partnership firm shortly whereupon necessary amendment in the registration certificate shall be made. Whereupon the Hon HC directed that let necessary GST ID/ pass word in the name of partnership firm be issued within a period of two weeks from today and the registration certificate be corrected within a week thereafter by the GST authorities.
The Hon HC also directed the authorities that no penal action would be initiated against the petitioner on non filing of the GST return and deposit of tax thereon provided the returns and the tax is deposited within two weeks of the issuance of the correct registration certificate.
*This Judgement is very important and can be termed as a stepping stone for shelter to taxpayers who have been facing such hardships and are opened to penal provisions under GST act because of technical snags in GSTN Portal.*
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Arrests rules in connection with Investigation under Companies Act, 2013 http://financebirds.com/company-act/arrests-rules-cact-2013/
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Investigation provisions under companies Act, 2013 http://financebirds.com/company-act/investigation-provisions-act-cact/
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HC Admits Plea challenging the Constitutional Validity of GST Compensation Cess: Directs Dept to Not to take Coercive Steps for Non-payment [Read Order]
http://www.taxscan.in/hc-admits-plea-challenging-constitutional-validity-gst-compensation-cess-directs-dept-not-take-coercive-steps-non-payment-read-order/10532/
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CBDT Modifies Guidelines For Demand Stay By The AO http://financebirds.com/tax/cbdt-modifies-guidelines-demand-stay-ao/
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The income tax department is open to lowering the withholding tax rate for foreign companies which have income in India, says CBDT chairman Sushil Chandra.
GST Authorities have issued clarification w.r.t selling of space for advertisement in print media on the basis of the queries being raised regarding GST applicability on the same. The rate is @ 5%.
IT Minister launched a GST filing and reconciliation solution product named ‘XaTTaX’. The product, developed by Sailotech, simplifies the filing of GST returns, claims for refund, raising invoices with comfort from home or workplace.
Last date of online filing MEF for the year 2017-18 is extended from 25th august to 31st August 2017. Hardcopy can send upto 7th September 2017.
Supreme Court ruling the right to privacy as a fundamental right under the Constitution has triggered uncertainty over the mandatory linking of Aadhaar for stock trading. Brokers said they will now wait for the SC judgment that will test the validity of Aadhaar.
RBI: The Cabinet has approved a framework to speed up mergers of public sector banks, the first of which could take place by March. The mergers will not involve any cash but only share swaps.
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📺 *Updates*
➡1. Revised guidelines for stay of demand before CIT(A) have prospective effect; CBDT clarifies
➡2. PF and ESI deposited on or before due date of filing of return couldn’t be disallowed, Apex court dismissed SLP.
Principal Commissioner of Income-tax, Jaipur. v. Rajasthan State Beverages Corporation Ltd.
➡3. ICSI withdraws Secretarial Standard I and II w.e f. Sept 30, 2017
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