Our Indian member firm, ELP has shared its latest edition of a tax update, which aims to keep readers updated on significant tax developments, regulatory changes, and judicial decisions, to ensure compliance and help others optimize their tax strategy. It includes recent case laws in the realm of direct and indirect taxation.
Direct Tax
The Supreme Court has ruled in favour of the Revenue regarding the validity of reassessment notices issued between June 2022 and September 2022. It confirmed the applicability of the Taxation and other Laws (Relaxation and Amendment of Certain Provisions Act) (TOLA) during the period after tax amendments were introduced by the Finance Act 2021.
Indirect Tax
It is necessary to have a sufficient balance in the Electronic Credit Ledger (ECrL) for blocking credit under Rule 86A.
The development of e-learning course content and the supply of tutors for online tutoring are not considered as Online Information and Database Access or Retrieval Services.
The Constitutional Validity of the Chhattisgarh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam, 1976, which governs Entry Tax, has been upheld.
