Compliance with essential GST requirements is crucial for companies that are GST-registered. Prior to the start of the year, companies must prepare new invoice processing series, evaluate their accumulated turnover to determine whether to opt for the scheme for FY 2023-2024
In a recent case Tvl Metal Trade Incorporation v. the Special Secretary, Head of the GST Council Secretariat and Ors.(W.P. No. 3033 of 2023 And W.M.P. No. 3125 of 2023 dated February 6, 2023), the Hon’ble Madras High Court ruled that the State Tax Authority cannot prosecute an assessee if the Central Tax Authority has already taken action regarding the same subject matter. The court further stated that the assessee must participate in a personal hearing or enquiry to substantiate such a defence and to determine whether the proceedings initiated by the Central and State Tax Authorities involve the same subject matter. The court directed the assessee to appear before the Revenue Department and present all their objections.
The Hon’ble High Court of Allahabad vide its order dated 22.12.2022 in the matter of M/s Jaiprakash Thekedar Vs. Commissioner, Commissioner Taxes and Another in Writ Tax No. 1511 of 2022, quashed the order cancelling the registration passed
On 17th Feb 2023, the GSTN team has issued a direction that now the table 4 of GSTR-3B will now accept negative values also.