Imagine buying an under-construction house for ₹1 crore, where the land itself is worth ₹60 lakh. Yet, GST is computed as if the land is worth only ₹33.33 lakh. Fair?
That's exactly what the Gujarat High Court examined in Munjal Manishbhai Bhatt v. Union of India.
The entire judgment in a handwritten format so that you'll never forget the concept. ✍️⚖️
@carajendra89 If work from home Kindly inform me, I have 10 yr. Above experience in IT filling Income tax act 1961 and still now Income tax act 2025 also
Today @dbalasore chaired a coordination meeting to assess the preparedness of the district administration for the upcoming NEET(UG) exam,in the presence of the ADM,Bls , City coordinator,DEO bls,All centre superintendents,duty magistrates and other concerned line dept officials
Kind Attention Taxpayers!
Filing your ITR-1 for Assessment Year 2026-27?
Follow our step-by-step video guide to seamlessly report your income from salary, house properties, Capital gains or other sources.
Visit: https://t.co/fEQg3SDHYj
@nsitharamanoffc@officeofPCM@FinMinIndia@PIB_India
🚨GST Refund Update!!
Compliance workload has increased for GST refund filers.
Annexure-B for refund is required to be uploaded through utility in JSON file format.
📌Will enable system-based validation of invoices with GSTR-2B.
📌Further, the utility seeks additional fields beyond the Annexure-B format referred to in Circular 135, such as:
Type of inward supply, 2B period, blocked ITC S.17(5), ineligible ITC etc. @Infosys_GSTN@cbic_india@DEEPKORADIA Cumberosme 🫤
GST Arrest Provision
ITC Involved
Upto 1 Cr = No Arrest
1 Cr to 2 Cr = Bailable Arrest (1 Year Jail & Fine)
2 Cr to 5 Cr = Bailable Arrest (3 Year Jail & Fine)
Exceeds 5 Cr = Non- Bailable Arrest (5 Yr Jail & Fine)
Note: -
1. In case of non bailable arrest Bail is Generally granted after chargesheet.
2. In case of non bailable arrest anticipatory bail can also be granted. (Very Rare)
3. ITC Involved = wrongly availed/utilised
💠 From 1 April 2026, the Income-tax Act, 2025 comes into force, ushering in a simpler, clearer and more reader-friendly direct tax framework.
💠 With new Rules and simplified Forms already notified, today marks a new chapter in India' direct tax administration and an important step towards Viksit Bharat
Details in the press release.
#IncomeTaxAct2025
#SaralKanoonSashaktBharat
@nsitharamanoffc@officeofPCM@FinMinIndia@PIB_India