Under GST, Exports and supplies to SEZ are zero rated as per section 16 of the IGST Act, 2017. By zero rating it is meant that the entire supply chain of a particular zero-rated supply

The Bombay High Court has held that service tax is not leviable on ocean freight or sea transportation services. The Petitioner is a company incorporated under the Companies Act, 1956, and is a manufacturer of

This weekly round-up analytically summarizes the key tax judgments of the Supreme Court and all High Courts reported at Taxscan.in during the previous week from March 2nd to March 9th of 2024. Opportunity not Granted

The Central Government has appointed 40 new members to the Income Tax Appellate Tribunal ( ITAT ) bench across the nation. The government has provided the list of names of the members appointed which includes

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1)(c) of the Income Tax Act, stating that property sale consideration should not be grounds for inaccurate income

In a significant move, the Center has filed a transfer petition with the Supreme Court, urging the consolidation of all pending cases across various High Courts challenging GST notices issued to real money gaming companies.

The Bombay High Court recently ruled that actual agricultural operation is not necessary condition to qualify as agricultural land and directed to pass fresh assessment order. The Assessing Officer ( AO ) rejected the contention

In a major relief to Shell India Markets Private Limited, the Bombay High Court ruled that no TDS deductible on Business Support Services and it is not taxable as fees for technical services ( FTS

The Bombay High Court has nullified reassessment notices directed at Godrej due to their issuance beyond the prescribed limitation period, being time-barred in result. Justices K. R. Shriram and Neela Gokhale, on evaluating the notice's

The Bombay High Court ruled that storage tanks not classifiable as land or building and that TDS is deductible on storage charges. Assessee used to pay storage charges. Therefore, assessee had hired tanks of various

This weekly round-up analytically summarises the key tax judgments of the Supreme Court and all High Courts reported at Taxscan.in during the previous week from February 23rd to March 01st of 2024. No TDS applicable

A tax refund is money you receive from the government because you overpaid your taxes. Essentially, it's like getting back the extra taxes you paid. This situation commonly occurs when the advance tax, TDS, or

The Supreme Court of India has held that, “the assessees would not be under a legal obligation to deduct tax at source on the income/profit component in the payments received by the distributors/franchisees from the

The Bombay High Court recently ruled that change of opinion by the Assessing Officer ( AO ) is not justification for assuming income chargeable to tax. An assessment order came to be passed in which,

Income tax refund means a refund amount that is initiated by the income tax department if the amount paid in taxes exceeds the actual amount due (either by way of TDS or TCS or Advance