Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The WBGST Act was amended to retrospectively extend the time limit for claiming input tax credit for financial years 2017-18 through 2020-21 until November 30, 2021, and to establish special provisions for taxpayers whose registration was cancelled and subsequently revoked. The DCT clarified implementation procedures across various scenarios: ongoing investigations, pending demand notices, cases under adjudication, appellate proceedings, and revision proceedings. Taxpayers with final orders confirming demands for improper ITC claims may apply for rectification within six months from October 8, 2024. While no refund is available for tax already paid or ITC reversed due to these amendments, pre-deposits made during appeals are refundable if decided favorably.
The WBGST Act was amended to retrospectively extend the time limit for claiming input tax credit for financial years 2017-18 through 2020-21 until November 30, 2021, and to establish special provisions for taxpayers whose registration was cancelled and subsequently revoked. The DCT clarified implementation procedures across various scenarios: ongoing investigations, pending demand notices, cases under adjudication, appellate proceedings, and revision proceedings. Taxpayers with final orders confirming demands for improper ITC claims may apply for rectification within six months from October 8, 2024. While no refund is available for tax already paid or ITC reversed due to these amendments, pre-deposits made during appeals are refundable if decided favorably.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
