The Allahabad High Court, in a recent ruling, held that the VAT department cannot suspect the genuineness of the purchases due to minor discrepancies in the Books of Accounts. The assessee, M/S Jaiswal Machinery Stores contended that a survey was conducted by SIB Unit on 21.06.2011. On the basis of the survey so made, assessing…
Source Taxscan
Latest Posts in "India"
- India Cuts GST on Renewable Energy to 5%, Boosting Solar Affordability and Green Jobs
- Telangana Deputy CM Urges Traders to Pass GST Rate Benefits to Public for Economic Growth
- Indian CBEC Clarifies GST Treatment of Post-Sale Discounts and Input Tax Credit Eligibility
- 5% GST on Salons, Gyms, Yoga Classes Mandatory from September 22, Says CBIC
- CBIC Clarifies: No Input Tax Credit for Insurers on Brokerage and Commission Under New GST Rules
