The Bombay High Court has put a stay on a Rs.2,500 crore GST demand issued against Coca-Cola. The case involves claims that the company undervalued its goods over a span of seven assessment years. The court’s decision provides temporary relief to Coca-Cola as the matter undergoes further examination. Authorities had alleged significant tax shortfalls due to the undervaluation.
Delta Corp shares rose after the Supreme Court agreed to hear the online gaming industry’s appeals on January 10 about GST-related issues. The industry is challenging notices from the Directorate General of GST Intelligence (DGGI), which have resulted in a huge tax demand of Rs. 1.12 lakh crore from 71 gaming companies. This news has given hope for a solution to the ongoing tax problems. The decision could have a big effect on the online gaming industry.
Today, On 6th September, the Supreme Court dismissed a PIL seeking enforcement of a compliance rating mechanism under the CGST law, stating that such matters are within the purview of legislative decisions. The mechanism assesses businesses’ adherence to tax regulations. The court emphasized that PILs should be reserved for pressing concerns involving public interest and fundamental rights.
The Supreme Court has requested responses from the Centre and other parties regarding a petition that contests the ruling of the Delhi High Court. This decision upheld the legality of a section in the Central Goods and Services Tax (CGST) Act, which requires companies to pass on tax savings to consumers by lowering prices. The […]
