TaxLawIndia

TaxLawIndia

2/2/2025, 6:29:40 AM

🚀 *Union Budget 2025: A Game-Changer for Growth & Development* The Union Budget 2025 sets a strong foundation for India’s economic growth, focusing on infrastructure, rural development, manufacturing, financial sector reforms, and digital transformation. *Key Takeaways:* ✅ No income tax up to ₹12 lakh – A massive relief for the middle class! ✅ ₹1 lakh crore investment in urban development – Driving infrastructure expansion. ✅ Financial sector reforms – 100% FDI in insurance, simplified RE-KYC, and UPI-linked credit for small businesses. ✅ Support for agriculture & rural economy – Higher Kisan Credit Card limits, new schemes for pulses, and expansion of food processing. ✅ Education & healthcare boost – More IITs, AI research centers, and 75,000 new medical seats. ✅ Manufacturing & job creation – National Manufacturing Mission, 22 lakh jobs in the leather industry, and India as a global toy hub. This budget reinforces India's commitment to self-reliance, economic inclusion, and technological progress. It’s an exciting time for businesses, startups, and professionals alike! *Follow @taxlawindia for more.* #Budget2025 #IndiaGrowth #EconomicDevelopment

TaxLawIndia

2/11/2025, 6:06:05 AM

*Grounds of Appeal Against Orders Issued Under Sections 73 & 74 of the GST Act* The issuance of orders under Section 73 (for non-fraudulent cases) and Section 74 (for cases involving fraud, willful misstatement, or suppression of facts) often results in tax demands and penalties. However, taxpayers have the statutory right to challenge such orders before the appellate authorities. A well-prepared appeal, supported by robust legal and factual grounds, can significantly impact the outcome. *Key Grounds for Filing an Appeal:* 1️⃣ Lack of Jurisdiction – The order may be challenged if the assessing officer lacks the requisite authority. 2️⃣ Violation of Principles of Natural Justice – If the order is passed without affording the taxpayer a reasonable opportunity to be heard or without considering their submissions, it may be set aside. 3️⃣ Erroneous Interpretation of Law – Orders based on incorrect application of GST provisions, misinterpretation of notifications, or improper classification of goods/services can be appealed. 4️⃣ Incorrect Computation of Tax and Penalty – If the demand is excessive or mathematically incorrect, it forms a valid ground for appeal. 5️⃣ Time-Barred Demand – Notices issued beyond the statutory limitation period (3 years under Section 73 and 5 years under Section 74) are not legally sustainable. 6️⃣ Duplication or Overlapping of Demand – If the tax demand leads to double taxation or is inconsistent with prior assessments, it can be contested. 7️⃣ Lack of Substantive Evidence – If the order is based on presumptions rather than documentary evidence, it may be legally challenged. Conclusion A well-founded appeal not only ensures the protection of taxpayer rights but also promotes fair tax administration. Businesses and professionals must carefully evaluate the basis of any demand and take appropriate legal recourse to mitigate unwarranted liabilities. For expert assistance in GST appeals, litigation, and compliance, feel free to connect. #GSTLitigation #IndirectTax #TaxAppeals #Compliance #GST #TaxConsulting #LegalRecourse