Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Levy of penalty u/s 54(1)(14) - no papers were produced despite the fact that goods were being imported from outside the State - There is always apprehension that in absence of relevant documents the goods can be sold to unregistered dealers and thereby transaction would not be recorded in the books of account and the tax due would also be evaded. As per provisions contained in Section 50 of the Act, 2008, provides for penalty to stem the evasion of tax and to see that all the transactions are duly recorded in the books of account of the assessee which can subsequently be looked into by the taxing authorities - HC
Levy of penalty u/s 54(1)(14) - no papers were produced despite the fact that goods were being imported from outside the State - There is always apprehension that in absence of relevant documents the goods can be sold to unregistered dealers and thereby transaction would not be recorded in the books of account and the tax due would also be evaded. As per provisions contained in Section 50 of the Act, 2008, provides for penalty to stem the evasion of tax and to see that all the transactions are duly recorded in the books of account of the assessee which can subsequently be looked into by the taxing authorities - HC
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