Updates by GST Panacea

Title :Pr Commissioner of Income Tax v. Hespera Reality (P.) Ltd. Court: Delhi High Court Date : 24-Dec-2024 Citation No: IT Appeal 468 OF 2024 #Caselaw #delhihighcourt #GST

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Medtech sector seeks standard GST rate, export incentives in Budget #Medtech #HealthcareInnovation #Budget2023

Simplify GSTR-1/IFF filings by preparing essential documents like invoices, credit/debit notes, amendments, advance details, and HSN/SAC summaries. Proper organization ensures smooth compliance. #GSTCompliance #GSTR1 #TaxFiling

Title :Britannia Industries Ltd. v. Union of India Court: Calcutta High Court Date : 23-Dec-2024 Citation No: W.P.A. No. 24534 of 2024 #Caselaw #Calcuttahighcourt #GST

GST officers must provide written grounds for arrest and get acknowledgment, says CBIC #GST #CBIC #Taxation #GSTOfficers

Good Evening, Friends, I have prepared a brief discussion on Appeals under Income Tax. To download the file: 1) Go To this post : https://x.com/abhishekrajaram/status/1878798909968908443 2) Follow me, else DM will not work 3) Like and Retweet 4) Check your DM 5) Follow Steps to download file 6) Join Tax Updates group for FREE Note: Tweet valid for 24 hours or 500 DM, whichever is earlier.

Requirements For PF withdrawal, please ensure the following documents and details are ready: Aadhar Card, Email ID, registered mobile number, PAN card copy, cancelled cheque, and UAN (Universal Account Number). #PFWithdrawal #EPF #AadharCard

Title :Assistant Commissioner of Income-tax v. N.K. Industries Ltd. Court: Supreme Court Date : 13-Dec-2024 Citation No: SPECIAL LEAVE PETITION (CIVIL) Diary No(s). 54516 of 2024

An expired e-way bill alone does not amount to tax evasion. - Madras High Court allows statutory appeal U/s 107 after almost 8 months of delay. 🚛⚖️ Thoughts, Insight and Research by: Abhishek Raja Ram, 9810638155 A) Facts of the Case (with Timeline) • On 18.01.2022, at 5:47 PM, the Assessee generated an e-way bill for transporting imported goods from Chennai port to their factory in Pondicherry. The bill was valid until 5:47 PM on 19.01.2022. • 20.01.2022, 9:45 AM: The department intercepted the goods. The driver provided a statement, and the consignment was seized because the e-way bill was invalid. • 21.01.2022: The Assessee paid the penalty (200% of the tax amount) under protest and had the goods released. • 26.09.2022: Assessee filed a writ petition, challenging the penalty imposed under Section 129(3) of the TNGST Act, 2017. B) Issue Whether the expiry of the e-way bill constitutes a sufficient basis for imposing a penalty under Section 129(3) of the TNGST Act, 2017. C) Argument by the Assessee • The expiry of the e-way bill does not amount to tax evasion. • The penalty was paid under duress to clear the detained goods. • The Department failed to consider mitigating circumstances, including the absence of evidence suggesting an intent to evade tax. D) Department's Argument • As per Section 129(3), any contravention, including an expired e-way bill, justifies the imposition of a penalty. • The proceedings under Section 129(5) concluded with the Assessee's payment, rendering the writ petition unsustainable. E) Court Judgment • The Court held that mere expiry of the e-way bill does not conclusively indicate intent to evade tax. • Directed the Assessee to file a statutory appeal under Section 107 of the TNGST Act, 2017, within 30 days. • Department instructed to provide necessary documents, including the driver’s statement. F) Case Details Title: Pulkit Metals Pvt. Ltd. vs The State Tax Officer – II, (Intelligence), Vellore, Villupuram Court: Madras High Court Citation: W.P. No. 26145 of 2022 Dated: 29-Nov-2024 G) Impact Analysis This judgment reaffirms that procedural lapses, like an expired e-way bill, require contextual evaluation and cannot solely justify severe penalties. Hope you will find this useful.

GSTR-5 (non-residents) and GSTR-6 (ISD) for December 2024 by 13th January 2025. Ensure compliance with tax payable, inward supplies, and distributed ITC details. #GSTR5 #GSTR6 #GSTCompliance #TaxFiling #GSTReturns

GSTR-1 (QRMP) for Oct-Dec 2024 by 13th Jan 2025. Taxpayers not using IFF for Oct-Nov must upload all invoices for these months in quarterly returns. #GSTR1QRMP #GSTReturns #TaxCompliance #GSTFiling

"Due dates for GSTR-1 and GSTR-3B for December 2024 extended. Regular filers: January 13-15. GSTR-3B deadlines: January 22-26, 2025. Plan your filings! #TeamGSTPanacea #GSTReturns #TaxUpdates #Compliance"

"Due dates for filing GSTR-7, GSTR-8, GSTR-5, and GSTR-6 for December 2024 extended to January 12 and January 15, 2025, respectively. Ensure timely compliance! #TeamGSTPanacea #GSTUpdates #TaxCompliance #GSTRFiling

Starting January 2025, Phase-3 HSN validation in GSTR-1 Table 12 begins: mandatory 4/6-digit HSN codes, dropdown-only selection, separate B2B/B2C reporting, and improved usability for My Master products. #TeamGSTPanacea #GSTUpdates #HSNValidation #GSTR1

Govt extends monthly GST return, payment deadline due to snag in system GST Deadlines Extended Due to Technical Issues The government extended GST filing deadlines after portal glitches: • GSTR-I: Monthly (Dec): 13th Jan, QRMP: 15th Jan. • GSTR-3B payment: Monthly: 22nd Jan, QRMP: 24th/26th Jan.

GSTR-1 for December 2024 by 11th January 2025. Applicable for turnover above ₹5 crore or non-opted QRMP scheme (Oct-Dec 2024). #GSTUpdate #TaxCompliance #GSTR1Filing #GSTReturns

Effective January 1, 2025, no TDS under Section 194Q applies to IFSC unit purchases, provided the seller submits Section 80LA declarations and buyers comply with TDS reporting requirements. #TeamGSTPanacea #IncomeTaxUpdates #TDSExemption #IFSCUnits

Thank you, Advocate Forum, Delhi, for the memorable recognition and trophy. Honored to share insights on "SCN with Supporting Judgments." Grateful for this inspiring moment!