@abhishekrajaram's Latest Twitter Threads

Govt. enacts IGST Amendment Act, prescribes special provisions for specified actionable claims Pursuant to recommendations made by the 50th & 51st GST Council meeting, FinMin introduced the IGST Amendment Bill in the Parliament which has now received the assent of the President.

The Supreme Court upheld the action of the Patna High Court in dismissing a writ petition filed by a taxpayer against a GST assessment order in case of M/s Vishwanath Traders vs Union of India [SLP(C) No. 15594/2023, dated 04-Aug-2023]

"Mera Bill Mera Adhikar" (My Bill, My Right) - New Scheme announced. The prizes in the lucky draw are: Rs. 1 crore Rs. 10 lakh Rs. 10,000 It will be launched in Haryana, Assam, Gujarat, Dadra and Nagar Haveli, Daman and Diu, and Puducherry from 01-Sep-2023. More details⬇️

The Patna High Court has ruled that input tax credit (ITC) is not available to a taxpayer if the tax has not actually been paid to the government. M/s Aastha Enterprises vs The State of Bihar [Civil Writ Jurisdiction Case No. 10395 of 2023 dated 18-Aug-2023]

⛔GST applies to X (formerly Twitter) Ad Revenue Sharing Over Rs 20 Lakh Annual Threshold 🔺The tax on amounts over Rs 20 lakh is 18%. 🔺All entities, including social influencers, must meet the Rs 20 lakh threshold.

🚨Transporter Penalized 🎯for Reusing E-Way Bills 📝, Punjab and Haryana High Court Upholds Penalty 📣 Be careful! Reusing e-way bills can lead to a fine of up to 💸INR 10,000 or twice the amount of tax evaded 👊, whichever is greater.

Appeal before the Commissioner (Appeals)—Commissioner (Appeals) to dispose of the assessee’s appeal within a reasonable time. Telangana High Court in VENKAT RAO PALETI vs COMMISSIONER OF INCOME-TAX (APPEALS) [Writ Petition No. 6204 of 2023 dated 13-Mar-2023]

The Income Tax (Seventeenth Amendment) Rules, 2023, has amended Rule 26 of the Income Tax Rules, 1962. The amendment changes the rate of exchange that will be used for the calculation of the value in rupees of any income payable in foreign currency.

Picture this: The GST authorities knock on your door, demanding provisional tax. But wait! They didn't give you a show-cause notice. Unlawful, right?

Shocking: GST investigation unearths shocking details! 'Gaming apps converting earnings to cryptocurrency..!!