COMPLIANCE CALENDAR FOR JUNE, 2024

Liquidated damages received for delay in supply of assets are capital receipts: ITAT Kolkata

Sec 54 deduction is available when new residential property is purchased in spouse’s name: ITAT Mumbai

Don’t forget to file statement of financial Transaction (SFT) by 31st May

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.

Manner of Service of Notice discussed by P & H High Court

How maintaining proper records saved a taxpayer’s right to avail ITC even when the supplier defaulted in payment of taxes and filing returns

Incorrect reporting in Clause No. 21 of CARO: ICAI’s disciplinary committee ordered a penalty of Rs.100,000/- on member

GST Judiciary Issue Cannot Be Reopened if Previously Decided

Income tax return vis a vis Tax Regime from AY 2024-25 Onwards: Points to Remember

Whether legal representative is under an obligation to intimate about the death of the taxpayer to the IT Department?

Notice U/s 148 has to be issued through automated allocation. If issued by JAO, it is invalid

New Functionality for checking Feedback Status on the Annual Information Statement (AIS)

A welcome Move: Tamil Nadu GST Department instructed officers to follow SOP for new GST Registration & send the Welcome letter on New Registration

In Faceless assessment scheme, High Court can assume jurisdiction based on the place of residence of the assessee mentioned in the PAN details

5. Reopening Notices Based on Borrowed Material from DRI and Justice M.B. Shah Commission Report Quashed by Bombay HC

HC instructs the GST Department to open portal for GSTR-3B filing after revocation of cancellation of registration.

GST officers has no jurisdiction beyond designated Area: Rajasthan HC