🇮🇳 GST MITRA Litigation Updates
📚 Revocation against Cancellation of Registration only condition is to file all returns
⚖️ RAMAKRISHNAN MAHALINGAM VERSUS STATE TAX OFFICER..: Madras HC
1️⃣ SCN issued for Cancellation of registration-Two Application Filed for Revocation against cancellation - First Rejected due to non-compliance of notice - Second Rejected referring to outstanding interest on belated payment of tax dues and for allegedly wrongful claim of ITC.
2️⃣ Appeal filed to First Appellate Authority - Deficiency Memo Issued against - Challenged in Writ Petition Filed.
3️⃣ Contention of Respondent is Registration will not be revived since the petitioner has incorrectly availed of ITC would be putting the cart before the horse. In fact, the Petitioner has filed all are returns and annual returns.
4️⃣ Thus the only conditions that are to be satisfied by the petitioner for grant of revocation of registration is to furnish all returns due. Hence, WP is allowed.
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⚫Foreign investors have pulled out Rs 5,936 crore from the Indian equities in the first week of May amid worries over the intense wave of coronavirus and its fallout on the economy.
⚫Power consumption in the country grew 25% in the first week of May to 26.24 billion units over the same period last year, showing consistent recovery in industrial and commercial demand of electricity.
⚫A massive 133% jump in the proceeds from IPOs inspite of the raging second wave of the pandemic, with the value of M&A increasing by 8% to USD 32.3 billion across 437 deals.
⚫The Delhi Metro Rail Corp said all lines will remain suspended after the Govt extended the ongoing lockdown for another week.
⚫The airlines have approached the central and state govts to eliminate the need for Covid negative report, which is mandatory for entry into multiple states.
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🔰 Now you can track refund application without logging into GST Portal
✅ Are you planning to track your GST (Goods and Services Tax) refund application?
🔷 There is one way with which you can easily do it, just by logging in to the GST portal. But if you are looking for an alternative, there is another option that you can try without logging into the GST portal.
Read More at: http://www.a2ztaxcorp.com/now-you-can-track-refund-application-without-logging-into-gst-portal/
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Central Board of Direct Taxes issued notification and allowed hospitals to accept cash payment in excess of 2 lakh. Exemption, applicable for a period between April 1-May 31, 2021, would be subject to providing the permanent account number or Aadhar number of the patient or of any other person making the payment on behalf of the patient and his relationship with the patient.
GST Further extended the facility of accepting undertaking in lieu of bond till June 30, 2021 to facilitate the trade during COVID-19 pandemic.
Central Board of Indirect Taxes and Customs has directed its offices to not send show-cause notices for service tax defaults, merely on the basis of discrepancies between income tax returns and service tax amount. Various tax-related associations have complained to the Union finance ministry that SCNs were wrongly sent for the financial year 2015-16.
Commissioner of customs, Ludhiana said, “The special intelligence and investigation branch (SIIB) of our commissionerate has seized eight containers which were imported by Mandi Gobindgarh based firm. The importer has misdeclared the contents of the containers which in actual are seamless offshore pipes but have been declared as re-rollable scrap.
Delhi High Count appointed Arvind Datar, a senior counsel as Amicus Curiae to assist the court on plea seeking exemption on imposition of Integrated Goods and Services Tax (IGST) on the import of oxygen concentrators as gift for personal use.
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E-KNOWLEDGE CAPSULE
✒ Allahabad High Court has issued a notice, preponing the summer vacation of the High Court and the Subordinate Courts, to begin from 10th May to 4th June, 2021.
✒️ Karnataka High Court has said that the advocates and parties in person who are appearing in matters being heard before the Court should not comment on social media about subjects which are dealt by the Court.
✒ Bombay High Court has allowed a team of Mumbai Police to video record senior IPS officer Rashmi Shukla's statement in Hyderabad, where she is posted as ADG CRPF. The Maharashtra government informed the court that they would not arrest her till the next date.
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⚫India has allowed bidders access to the financial data of BPCL as the Govt moves ahead with plans to sell its entire stake.
⚫Frankln Templeton MF announced that its six shuttered debt schemes had distributed Rs 14,572 crore to investors as on May 3.
⚫Amid supply crunch, Apollo Hospitals and Fortis Healthcare,
eyeing import of Covid-19 vaccines.
⚫Commercial bank credit in India contracted Rs 89,087 crore in April, reflecting a lean period at the start of the FY22 and the adverse effect of the second wave of Covid.
⚫Karnataka will be under a complete lockdown from May 10 till May 24 as daily coronavirus case count consistently stayed above 45,000 for the past few days.
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Bombay high court recently held that income tax officers cannot adjust the refunds due to taxpayers against outstanding demands in excess of the limits laid down in instructions, circulars and guidelines issued by CBDT. However, the refunds adjusted were more than 20% of the tax demand that had been raised the limit prescribed under latest CBDT instructions.
Anil Kumar Goel & Ors. Vs Union of India (Delhi High Court) Delhi high Court, vide order dated 06.05.2021, issued ad-interim direction, which is, that if any coercive action is intended to be taken against any assesses (not confined to the petitioners therein), at least, 3 weeks prior notice will be given to enable the assesses, to approach the Court, or an appropriate statutory authority, for seeking requisite relief.
GST: Madras High Court permits manual amendment in Bill of Entry when ICES portal not supports such amendment. Case Name : Hindustan Unilever Limited Vs Union of India (Madras High Court) Appeal Number : W.P. No. 34627 of 2019 Date of Judgement/Order : 05/03/2
Ministry of Corporate Affairs (‘MCA’) has notified the amendments made in section 149 (9), 197 (3) of the Companies Act, 2013 (‘2013 Act’) and schedule V of the 2013 Act with effect from March 18, 2021. Accordingly, the companies having inadequate profits/ loss may also pay remuneration to the Non-Executive Directors (“NEDs”) and Independent Directors.
ICAI Considering the difficulties which may be faced by Members and Firms, it has been decided to Waive-off Condonation Fees for filing Form No 18 for the transactions falling between 1st April, 2021 to 30th June, 2021 till 30th July, 2021.
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⚫India & European Union have agreed to resume talks for a balanced, ambitious and comprehensive trade agreement and also launch negotiations for a stand-alone investment protection pact.
⚫US President backed the USA entering negotiations at the World Trade Organization for the waiver of intellectual property rights as a means to boost vaccine supplies by allowing poorer countries to make their own.
⚫The IMA said that the Health ministry should "wake up" and respond to mitigate the growing challenges of the COVID-19 pandemic.
⚫Life insurance co's have seen a 44.76% rise in new business premium in April 21.
⚫Covid positive report not mandatory to get hospitalised.
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