SC stayed showcause notices issued by GST authorities worth over ...

GST authorities issued over Rs 1 lakh crore showcause notices to online gaming firms for alleged tax evasion, SC stays proceedings.

January 12, 2025

News GST

SC stayed showcause notices issued by GST authorities worth over Rs 1 lakh crore to online gaming companies and casinos over alleged tax evasion. A bench of JJ. J B Pardiwala and R Mahadevan said matters required hearing and all proceedings against gaming companies should remain stayed. Govt amended GST law making it mandatory for overseas online gaming firms to register in India from Oct 1, 2023 and 28% GST would be levied on full value of bets placed. Gaming firms contested such GST demands before HCs. SC transferred pleas from 9 HCs to itself for authoritative pronouncement.

View Source

← Previous Next →

SC stayed showcause notices issued by GST authorities worth over ...

GST authorities issued over Rs 1 lakh crore showcause notices to online gaming firms for alleged tax evasion, SC stays proceedings.

January 12, 2025

News GST

You may also like:

Revised monetary limits for adjudication of show cause notices in Central Excise for commodities classified under Chapter 24 of Schedule IV (tobacco and tobacco...

GST Revenue collection in the month of April 2018 exceeds ₹ 1 Lakh Crore

Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

Penalty u/s 271B - no tax audit conducted u/s 44AB - bonafide belief - When Gross profit is more than Rs.4 crores, it means the Gross Receipts were definitely more than...

Petitioner sought regular bail in case involving alleged wrongful Input Tax Credit (ITC) availed using fictitious invoices from non-existent/suspicious firms. As per...

Direct tax collections for FY 2023-24 as of 17.06.2023 show net collections of Rs. 3,79,760 crore, a growth of 11.18% compared to the preceding year. - Gross collections...

Jurisdiction of Single Member Bench of the Income Tax Appellate Tribunal - Monetary limit Rs.50 lakhs for hearing Appeal - In the present case, the assessee returned...

The Income Tax Appellate Tribunal allowed the assessee's appeal against the reopening of assessment u/s 148A of the Income Tax Act. The Assessing Officer had alleged...

The petitioner issued two post-dated cheques bearing No. 622623 for Rs. 93,00,000/- and No. 622624 for Rs. 1,54,00,000/- to the respondent as per a Deed of Undertaking....

Section 142(1) notice issued by non-jurisdictional officer held valid. Plain reading of Section 143(2) indicates either Assessing Officer or prescribed income-tax...

The key points covered in the legal document are: 1. It introduces new forms (GST SPL-01 to GST SPL-08) for taxpayers to apply for waiver of interest and penalty u/s...

₹ 1,10,828 crore GST Gross Revenue collected for January, 2020

The court granted regular bail to the accused in a case involving evasion of GST u/ss 132(1)(d) etc. of the Central Goods and Services Tax Act, 2017. The allegations...

This order authorizes Income-tax authorities to admit applications or claims for refund and carry forward of loss u/s 119(2)(b) of the Income-tax Act, 1961. It...

Quick Updates: