Offence committed by firms with separate GSTN but controlled by one person can be clubbed
February 10, 2021
Bombay HC paves way for defining threshold for cognisable, non-bailable offence The Bombay High Court has clubbed the wrongful activities of four distinct legal entities registered under GST law as they were effectively controlled by one person, and has upheld action taken against the person by the tax department.
Section 132(1)(i) of the CGST Act specifies that in cases where the input tax credit (ITC) wrongly availed of exceeds ₹5 crore, such an offence would be punishable with imprisonment, which may extend to five years and with fine. The central requirement for this provision, however, is that the ITC wrongly availed of must exceed ₹5 crore.
How Could the New Farm Laws Bring Agricultural Income Under the Tax Net?
Farmers may have to pay 18% GST on the income earned through corporate farming, which the new laws are expected to promote.
Farmers sowing representational image. Photo: Reuters
Government30/Jan/2021
Like a retro Bollywood movie with multiple double acts and plot twists, the controversy surrounding the three farm laws is not just limited to the specific legislations per se, but there is more to it, much more sinister. When the Income Tax Act, 1995 (ITA) and Central Goods and Services Tax Act, 2017 (CGST) are read in conjunction with the new farm laws, the sinister plot begins to unravel.
Demands for a uniform civil code are back and women’s groups continue to oppose it. Here’s why
With five Bharatiya Janata Party-led states passing or planning laws against ‘love jihad’, Hindutva groups have renewed their calls for a common civil code. Dec 29, 2020 · 09:00 am Muslim women participate in a rally to oppose the Uniform Civil Code in Ahmedabad in 2016. | Sam Panthaky/AFP
On November 28, the Uttar Pradesh government cleared an ordinance to prevent “love jihad”, a right-wing conspiracy theory which claims that Muslim men are seducing and marrying Hindu women in order to convert them to Islam. The new law, while penalising forced religious conversions, also makes it mandatory for an individual to seek the state government’s permission if they wish to convert to another religion in order to get married.
WHAT ARE SECTION 80 DEDUCTIONS? Section 80 Deductions Section 80 under Income Tax Act, 1961 allows taxpayers to avail tax exemptions and lower their taxable income. Investing in certain activities makes the taxpayer eligible to avail tax deductions of up to Rs 150,000 in a financial year under Section 80 C. Taxes form an important part in governing a country. They allow the government to provide and develop basic infrastructures and facilities to the citizens, which help the country progress. However, taxes can sometimes be complicated and can be seen as burning a hole in taxpayers’ pockets. To balance the needs of the taxpayers, the government in India introduced Section 80 deductions. There are various types of deductions which the taxpayers can avail under Section 80.