𝗡𝗔𝗙𝗥𝗔 𝗜𝗺𝗽𝗼𝘀𝗲𝘀 𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗼𝗻 𝗖𝗔 𝗡𝗲𝗲𝗿𝗮𝗷 𝗕𝗮𝗻𝘀𝗮𝗹 𝗳𝗼𝗿 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗠𝗶𝘀𝗰𝗼𝗻𝗱𝘂𝗰𝘁 𝗶𝗻 𝗥𝗲𝗹𝗶𝗴𝗮𝗿𝗲 𝗙𝗶𝗻𝘃𝗲𝘀𝘁 𝗔𝘂𝗱𝗶𝘁

𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗢𝗿𝗱𝗲𝗿 𝗣𝗮𝘀𝘀𝗲𝗱 𝗯𝘆 𝗡𝗔𝗙𝗥𝗔 (𝗡𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗔𝘂𝘁𝗵𝗼𝗿𝗶𝘁𝘆)
𝗖𝗮𝘀𝗲: Religare Finvest Limited vs. CA Neeraj Bansal (FY 2017-18) 𝗙𝗮𝘂𝗹𝘁 𝗮𝗻𝗱 𝗟𝗲𝗴𝗮𝗹 𝗕𝗮𝘀𝗶𝘀
The National Financial Reporting Authority (NAFRA) issued an order against CA Neeraj Bansal, a partner at SCV & Co. LLP, for professional misconduct in his role as the Statutory Auditor of Religare Finvest Limited (RFL) for the financial year 2017-18.

Constitution and GST Registration

Thoughts, Insight and Research by: Abhishek Raja Ram, 9810638155

Despite its unique structure, GST registrations and the law governing them remain subject to the overarching principles and provisions enshrined in the Constitution of India. This note examines the applicability of key constitutional articles to GST registrations. 1. Article Article 14: Equality before the law

Applicability: Article 14 guarantees equality before the law and equal protection of the laws within the territory of India. In the context of GST, this implies that the registration process, criteria, and related provisions must be non-discriminatory and apply uniformly to all similarly situated individuals and entities.

𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗜𝗺𝗽𝗼𝘀𝗲𝗱 𝗼𝗻 𝗧𝗣𝗜 𝗜𝗻𝗱𝗶𝗮 𝗟𝗶𝗺𝗶𝘁𝗲𝗱 𝗳𝗼𝗿 𝗡𝗼𝗻-𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝘄𝗶𝘁𝗵 𝗪𝗼𝗺𝗮𝗻 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿 𝗔𝗽𝗽𝗼𝗶𝗻𝘁𝗺𝗲𝗻𝘁 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁
𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗢𝗿𝗱𝗲𝗿 𝗣𝗮𝘀𝘀𝗲𝗱 𝗯𝘆 𝗥𝗢𝗖

𝗙𝗮𝘂𝗹𝘁 𝗮𝗻𝗱 𝗟𝗲𝗴𝗮𝗹 𝗕𝗮𝘀𝗶𝘀
The Registrar of Companies (ROC), Mumbai, issued a penalty order against TPI India Limited under Section 454 of the Companies Act, 2013, for violating Section 149(1) and Rule 3 of Companies (Appointment and Qualification of Directors) Rules, 2014. 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟰𝟵(𝟭): Mandates that listed companies must appoint at least one woman director.

𝗥𝘂𝗹𝗲 𝟯: Requires filling any intermittent vacancy of a woman director within three months or by the next board meeting, whichever is earlier.

Summary of GSTR-9 & GSTR-9C Reporting Requirements for FY 2023-24
(Updated as per Notification No. 12/2024 – Central Tax dated 11/07/2024)

A. GSTR-9: Annual Return
A.1. GSTR-9 Tables: Mandatory Tables/Section
4A to 4G: Taxable outward supplies, tax on advances, and RCM. • 4I to 4L: Credit/Debit Notes (CN/DN) and amendments related to supplies reported in 4B to 4E.

• A to 5C: Zero-rated supplies without tax payment, supplies where the recipient discharges tax.

• 6E: Import of goods.

• 6F to 6M: Other ITC details.

📰 𝗞𝗮𝗿𝗻𝗮𝘁𝗮𝗸𝗮 𝗛𝗶𝗴𝗵 𝗖𝗼𝘂𝗿𝘁 𝗥𝘂𝗹𝗶𝗻𝗴: 𝗥𝘀. 𝟮𝟭,𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲 𝗚𝗦𝗧 𝗗𝗲𝗺𝗮𝗻𝗱 𝗤𝘂𝗮𝘀𝗵𝗲𝗱 𝗳𝗼𝗿 𝗢𝗻𝗹𝗶𝗻𝗲 𝗚𝗮𝗺𝗶𝗻𝗴 𝗖𝗼𝗺𝗽𝗮𝗻𝘆 📢 The court ruled, "Games such as rummy, which are predominantly skill-based, cannot be taxed under the 'gambling and betting' category, and are therefore not subject to the GST rate applied to gambling."

𝗖𝗘𝗦𝗧𝗔𝗧 𝗛𝘆𝗱𝗲𝗿𝗮𝗯𝗮𝗱 𝗥𝘂𝗹𝗶𝗻𝗴 𝗼𝗻 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 𝗮𝗻𝗱 𝗦𝘁𝗮𝘁𝘂𝘁𝗼𝗿𝘆 𝗥𝗲𝗰𝗼𝗿𝗱𝘀

📢 The Tribunal ruled: "Demand of service tax cannot be confirmed merely based on figures in statutory records; the Department must prove the service was rendered."

𝗚𝗢𝗩𝗘𝗥𝗡𝗠𝗘𝗡𝗧 𝗢𝗙 𝗜𝗡𝗗𝗜𝗔 𝗔𝗺𝗲𝗻𝗱𝘀 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 𝗠𝗲𝘁𝗮𝗹 𝗦𝗰𝗿𝗮𝗽 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀

📢 New Tax Regulation Introduced: "Registered persons involved in the supply of metal scrap, under Chapters 72 to 81 of the Customs Tariff Act, 1975, are now subject to GST collection regulations starting October 10, 2024."

🚨 Karnataka High Court Quashes Common Show Cause Notice (SCN) for Multiple Tax Periods: "Fundamentally Flawed" 🚨

Veremax Technologie Services Limited Vs The Assistant Commissioner Of Central Tax The Karnataka High Court has held that issuing a consolidated SCN for multiple Assessment Years (AYs) is "fundamentally flawed" and contravenes the provisions of the CGST Act.

"BURDEN OF PROOF"

We usually believe that burden of proof lies on the Assessee but it's not in all cases. When the Assessing Officer levies allegations then the onus is on them

Let's decode few critical aspects of this

Bookmark/Save this post

Raja Abhishek
Your NIRC Candidate 1. Burden of proof vis-à-vis invocation of charging provisions
1.1 Ambalal Sarabhai Enterprises - Supreme Court
(1989) 43 ELT 214

Central Excise - Dutiability - Burden on the department to prove that goods were marketable hence liable to excise duty -

"REVERSAL OF ITC FROM CANCELLED DEALERS": Part-2

In the landmark judgment of State of Maharashtra vs Suresh Trading Company [(1997) 11 SCC 378], the Supreme Court held that the subsequent retrospective cancellation of the seller's registration does not affect the deduction (ITC) 2. Madras High Court
2.1 TVL. SRI ESWARI TEXTILES
(2017) 5 GSTL 256

Tamil Nadu VAT: Subsequent registration cancellation does not affect the purchasing dealer's right to a deduction.

Your GST Registration cannot be cancelled on hyper-technical grounds as GST Laws cannot override the Right to Livelihood under Article 21 of the Constitution of India.

Bookmark/Save this post for the future.

Research by: Raja Abhishek, NIRC Candidate 2024 1. Poonamchand Saran - Rajasthan High Court
2022-TIOL-1278
Assessee Cannot Be Deprived Of Its Livelihood By Cancelling The GST Registration.

"RECTIFICATION IN GST RETURNS"

To "err is human."

Mistakes, typos, double punching, incorrect data entry, and missing information are common aspects of human nature.

GST Returns can be amended but with restrictions. Therefore, High Courts have come as saviour in such cases. 1. CHINTAMANISWAR CONSTRUCTIONS PVT. LTD. - Orissa High Court
(2024) 20 CENTAX 222 :: 2024-TIOL-1124

GSTR-1 - B2B instead of B2C - By permitting Petitioner to rectify the error, there will be no loss to the Revenue - Directions issued by the High Court

Top-10: Must read recent judgments of GST

1. Delhi High Court remanded the matter as the appeal was rejected because the certified copy of the order wasn’t filed within 7 days. Reva Giant Implex LLP vs. Assistant Commissioner of CGST. 2. E-way Bill: Typographical error not indicative of tax evasion intent. Active GSTIN, residential address not adverse. Penalty quashed for lack of evidence. Allahabd High Court in NANHEY MAL MUNNA LAL VS ADDITIONAL COMMISSIONER.

The Penalty Saga of Typographical Errors in E-Way Bills

Despite numerous judgments against Mobile Squad Officers imposing hefty penalties for typographical errors, the officers persist in their practices

Save d post to handle such cases effectively

Raja Abhishek
NIRC Candidate 1. Allahabad High Court
1.1 NANHEY MAL MUNNA LAL
(2024) 7 TMI 613
 Typographical error is not indicative of tax evasion intent. Active GSTIN, residential address not adverse. Penalty quashed for lack of evidence.

7 Years of GST, My Experience

"Facts matter, not truth."

There are two distinct groups of tax professionals: one who prioritizes facts and the other who values jurisprudence and law. In my seven years of experience with GST, it's become clear that the GST department frequently imposes its interpretations under the guise of the "intention of the legislature."

Who Should File Income Tax Return (ITR) Without Failing?

Filing an Income Tax Return (ITR) is a critical responsibility for individuals and businesses to comply with tax regulations.

The criteria for mandatory ITR filing are defined by the Income Tax Department of India.

Below are the conditions under which filing an ITR becomes essential:

1. Saving Bank Deposits
Individuals with saving bank deposits exceeding Rs. 50 lakhs in a financial year must file an ITR.
(1/n) 2. Current Account Deposits
If the total deposits in current accounts surpass Rs. 1 crore in a financial year, it is mandatory to file an ITR.
(2/n)

"RETROSPECTIVE CANCELLATION OF GST REGISTRATION"

As you are aware, the Department keeps canceling GST Registration from retrospective effect, Sharing with you a few judgments from VAT-Sales Tax era on this issue. 1. Jain Manufacturing India Ltd. - Delhi High Court
(2016) 93 VST 326 :: (2016) SCC Online 3656

Delhi CST: Retrospective cancellation adversely affects the rights of bona fide sellers from other states who rely on the validity of the C Forms provided at the time of transaction.

Title Slide - New AIS Reporting Requirements: 57 Types of Incomes & Expenses Slide 1: Introduction
Title: Introduction
Content: Brief overview of the new CBDT notification aimed at enhancing financial transparency and compliance by taxpayers.

Bombay High Court allowed the supplier to correct the GSTIN of the buyer in its GSTR-1 for FY 2018-19 so that buyer can avail ITC.

Facts of the Case 📅
• Petitioner made an error in their GSTR-1 form for the financial year 2018-19 by using the wrong GST number for their client. • On November 10, 2020, the client received an intimation regarding a mismatch in GSTR-2A and GSTR-3B.
• The Petitioner sought permission from GST authorities to amend the GSTR-1 form but received no response, leading to the filing of the petition.

"DEMAND OF ITC ON THE BASIS OF GSTR-2A AND GSTR-3B MISMATCH"

You all might have encountered such demand.

How much they are valid?

All judgments from Madras High Court. 1. Sri Lakshmi Silvers vs State Tax Officer - Madras High Court
(2024) 75 TLC 035

The HC Quashes GST Assessment Order, where the entire tax demand pertains to the disparity between the ITC claimed in the GSTR-3B return and that reflected in the auto-populated GSTR-2A returns.

🌿 Boosting Renewable Energy: IEEFA & JMK Research Call for GST Cuts on Hydropower and Wind Projects 🌿 Exciting developments in India's renewable energy sector! A recent study by the Institute of Energy Economics and Financial Analysis (IEEFA) and JMK Research has recommended crucial measures to help India achieve its ambitious target of 500 GW of renewable energy capacity by 2030