CA in Jaipur | CA. Yogesh Jangid |ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases | https://www.nyca.in ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases Thu, 04 Apr 2024 04:44:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://www.nyca.in/wp-content/uploads/2022/08/9060CA_logo_icai-1.jpg CA in Jaipur | CA. Yogesh Jangid |ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases | https://www.nyca.in 32 32 High Court of Gujarat Rules on GST Case https://www.nyca.in/high-court-of-gujarat-rules-on-gst-case/ https://www.nyca.in/high-court-of-gujarat-rules-on-gst-case/#respond Thu, 04 Apr 2024 04:44:00 +0000 https://www.nyca.in/?p=8214 In a significant legal development, the High Court of Gujarat has recently issued a noteworthy ruling in the case of OTSUKA PHARMACEUTICAL INDIA PVT LTD versus UNION OF INDIA.

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In a significant legal development, the High Court of Gujarat has recently issued a noteworthy ruling in the case of OTSUKA PHARMACEUTICAL INDIA PVT LTD versus UNION OF INDIA. This ruling addresses a crucial aspect pertaining to the Goods and Services Tax (GST) regime, particularly focusing on the retrospective application of amendments to Rule 108 of the CGST Rules, 2017. The case, denoted as R/SPECIAL CIVIL APPLICATION NO. 13209/210/212/213/215 of 2023, reached its culmination on 27th March 2024.

Facts of the Case:

  • The petitioner, OTSUKA PHARMACEUTICAL INDIA PVT LTD, contested against the UNION OF INDIA, asserting that Rule 108(3) of the CGST Rules should not be applicable in their situation. They contended that their online appeals were based on the Order-in-Original made available by the adjudicating authority.
  • The crux of the issue revolved around the requirement for the petitioner to submit the decision or order being appealed against within seven days of filing the appeal under sub-rule (1) of Rule 108, and the subsequent issuance of a final acknowledgment by the appellate authority indicating the appeal number.

Held:

  • The High Court determined that the petitioner was indeed obligated to adhere to the stipulated timeline for submitting the decision or order appealed against, as outlined in Rule 108.
  • While acknowledging the justifiability of the appellate authority's rejection of appeals due to delays, the Court referenced the Minutes of the 48th Meeting of the GST Council. This documented the Council's acceptance of recommendations put forth by the Law Committee.
  • According to these recommendations, when an order subject to appeal is issued or uploaded on the common portal and is accessible to the appellate authority, the necessity for the appellant to furnish a certified copy of such an uploaded order becomes inconsequential due to its online availability.
  • Consequently, the retrospective effect of the amendment to Rule 108, effective from 26th December 2022, was affirmed by the Court as being clarificatory in nature.
  • In light of this clarification, the impugned order passed by the appellate authority rejecting the appeal on grounds of delay was deemed untenable. Therefore, the High Court proceeded to quash and set aside the impugned order.

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]]> https://www.nyca.in/high-court-of-gujarat-rules-on-gst-case/feed/ 0 CBDT Introduces Key Changes to Income-tax Rules: Fourth Amendment Rules, 2024 https://www.nyca.in/cbdt-introduces-key-changes-to-income-tax-rules-fourth-amendment-rules-2024/ https://www.nyca.in/cbdt-introduces-key-changes-to-income-tax-rules-fourth-amendment-rules-2024/#respond Wed, 06 Mar 2024 12:11:45 +0000 https://www.nyca.in/?p=7323 In a move aimed at streamlining tax compliance and ensuring transparency, the Central Board of Direct Taxes (CBDT) has issued Notification No. 27/2024 dated March 05, 2024, notifying the Income-tax (Fourth Amendment) Rules, 2024. These amendments, made to the Income-tax Rules, 1962, bring significant updates to various forms and deduction rules under the Income-tax Act, 1961.

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In a move aimed at streamlining tax compliance and ensuring transparency, the Central Board of Direct Taxes (CBDT) has issued Notification No. 27/2024 dated March 05, 2024, notifying the Income-tax (Fourth Amendment) Rules, 2024. These amendments, made to the Income-tax Rules, 1962, bring significant updates to various forms and deduction rules under the Income-tax Act, 1961.

Key Changes and Updates

1.) Form No. 3CD:

  • The amendment introduces new clauses for adjustments concerning sections 115BAA, 115BAC, and 115BAD for specific assessment years. These adjustments aim to ensure accurate reporting of income under different tax regimes.
  • Additionally, adjustments regarding expenditures in violation of the law have been incorporated into Form No. 3CD, enhancing scrutiny of expenses claimed by taxpayers.

2.) Form No. 3CEB:

  • Form No. 3CEB, used for reporting transfer pricing compliance, now includes new requirements for specified domestic transactions under section 115BAE. This addition reflects the CBDT's focus on monitoring domestic transactions for compliance with transfer pricing regulations.

3.) Form No. 65:

  • Updates to Form No. 65 cater to certifications related to International Financial Services Centre (IFSC) units and deductions under section 80LA of the Income-tax Act, 1961. These changes aim to facilitate smoother processes for entities operating within IFSCs and availing deductions under the specified section.

Source: https://www.nyca.in/wp-content/uploads/2024/03/CBDT-Notification-No.-27-2024-05.03.2024.pdf

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