Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Default in payment of GST in spite of the fact that amount was deposited in Electronic Cash Ledger (ECL) - delay in filing of GSTR-3B returns - High Court observed that, as long as GST collected by a registered person is credited to the government's account not later than the last date for filing monthly returns, the tax liability of that registered person is discharged from the date when the amount was credited to the government's account. Any default in payment of GST, even after the due date for filing monthly returns, will lead to interest liability. - Accordingly the proceedings quashed.
Default in payment of GST in spite of the fact that amount was deposited in Electronic Cash Ledger (ECL) - delay in filing of GSTR-3B returns - High Court observed that, as long as GST collected by a registered person is credited to the government's account not later than the last date for filing monthly returns, the tax liability of that registered person is discharged from the date when the amount was credited to the government's account. Any default in payment of GST, even after the due date for filing monthly returns, will lead to interest liability. - Accordingly the proceedings quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
