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The Supreme Court on Friday transferred to itself to adjudicate upon all the pending petitions in nine High Courts challenging the imposition of 28 % Goods and Services Tax (GST) on online gaming companies. A bench of Chief Justice of India D Y Chandrachud, and Justices J B Pardiwala and Manoj Misra decided to hear all the pending matters, acting upon a plea filed by the Centre seeking transfer of all 27 petitions pending in nine High Courts across the country. To read full article, click link below 👇 https://rb.gy/ijlex3 . . Lawstreet Journal #lsjjudiciary #lawstreetj #SupremeCourt #GSTOnGaming #HighCourtPetitions #LegalMatters #TaxationLaws #JudicialDecision #CentralGovernment #LegalChallenges #LegalProceedings #IndianCourts #india #legalnews

⚖️ Nazara's OpenPlay Receives Interim Relief from Calcutta HC in ₹845 Cr GST Notice Case. In a significant legal development, Nazara Technologies' subsidiary, OpenPlay, has secured interim relief from the Calcutta High Court concerning a GST notice amounting to ₹845 crore. 📜 Case Background: - The GST notice had raised concerns over alleged non-compliance with tax regulations, prompting OpenPlay to seek judicial intervention. - The court's interim order provides temporary relief while the case is under consideration. 🤝 Implications for Nazara: - This ruling allows OpenPlay to continue its operations without the immediate financial burden of the GST notice. - The interim relief is crucial for maintaining investor confidence and operational stability during ongoing legal proceedings. 📈 Market Impact: - The decision highlights the complexities of GST compliance in the digital gaming sector and could set a precedent for similar cases in the industry. - Nazara’s ability to navigate this legal challenge will be closely monitored by stakeholders in the gaming and tech sectors. Nazara’s OpenPlay obtaining interim relief from the Calcutta HC underscores the ongoing challenges faced by digital businesses in the regulatory landscape while highlighting the importance of legal recourse. #Nazara #OpenPlay #GST #Microshots #LegalRelief #DigitalGaming

Starting May 1, the Mumbai Civic Body will be implementing DOUBLE property tax for violations related to Marathi signboards. Curious to know more about this significant development? Click the link below for further details! 👇 https://lnkd.in/gd4zRtpv #bizproutX #labourlaw #tax #mumbai #compliancemanagement

📛⚠️GST Registration cancelled without reasons to be restored with immediate effect; #MUSTREAD 📢 GST Registration of assessee which was cancelled without reasons to be restored with immediate effect ➡️ The assessee contested the legality and validity of the show cause notice and the subsequent order cancelling its registration, arguing that they lacked proper justification. ➡️ The department acknowledged the issue when presented with the facts and agreed that both the show cause notice and the cancellation order could be set aside. ➡️ The agreement was to annul the impugned show cause notice and the order cancelling the registration, with the department's consent. ➡️ The department was given the liberty to issue a new show cause notice or take any other lawful action as deemed appropriate. ✔️ Bombay HC - Ganesh Enterprises v. State of Maharashtra [WRIT PETITION (L) NO. 3594 OF 2024] #GST #GSTUpdate #GSTcaseLaw #taxadvisory

In recent times, skill-based games with no element of luck can be offered without a licence in most Indian states besides Sikkim and Nagaland. Games of chance being offered for money are banned in a majority of Indian states under the current regulations, barring a select few states. In 2023, the Ministry of Electronics and Information Technology introduced the amended IT Rules, aiming to regulate and give stronger clarification for online gaming. The rules and subsequent amendments permitted online real-money games with regulatory approval. Our Managing Partner, Mr. Vidushpat Singhania states that the introduction of the IT Rules was seen as a landmark moment for the Indian online gaming industry and largely lauded by the industry. However, levying 28% GST on the value of all bets is a worrisome scenario. He further opines that after several representations, the government restricted the GST to just first-time deposits and not on every bet, but the industry still has strong concerns.   To know more, 𝗿𝗲𝗮𝗱 𝗵𝗲𝗿𝗲: https://lnkd.in/dyGJtYqQ   #postoftheday #legalupdates #gaminglaws #tax #ITRules #newsupdates #sportslawfirm #lawyer #lawfirm

The Supreme Court has recently held in the state of Maharashtra vs. National Organic that when a company pays stamp duty on account of an increase in authorised share capital, the maximum cap on stamp duty as stated in the stamp law does not apply to each instance of stamp duty paid for increase in authorised share capital, but that it is a one time cap applicable to ALL stamp duty paid towards increase in authorised share capital. If a company has therefore already paid the maximum cap prescribed, further increases in authorised share capital do not attract stamp duty. The Supreme Court decided the aforesaid in an appeal that was filed by the state of Maharashtra following a decision of the Bombay High Court where the court held that Form No. 5 (form for notifying the ROC of increase in share capital) is not an instrument as defined by Section 2 of the Stamp Act. #legalupdate #stampduty

The Supreme Court has adjourned petitions challenging the imposition of 28% GST on e-gaming firms. This significant tax rate has sparked debates within the industry, raising concerns about its impact on growth and innovation. Stay tuned for further updates! LINKEDIN #gstupdates #gstcompliance #gstreturns #gstnews #gstindia #gst #gstmitra #capraveensharma #incometaxindia #incometaxreturn #incometax #einvoicing #einvoice #ewaybill #corporate #training #traininganddevelopment #trainings #eventmanagement #event #EGaming #GSTUpdate #SupremeCourt #TaxNews

In a significant legal development, the Income Tax Appellate Tribunal (ITAT) in New Delhi ruled in favour of D.L. Heera Bhai Jewellery Arcade Pvt. Ltd., quashing an assessment order for AY 2017-18 due to insufficient evidence by the assessing officer. The case, cited as D.L. Heera Bhai Jewellery Arcade Pvt. Ltd. v. ACIT Central Circle-1, New Delhi, highlighted issues with the evidence used to attribute demonetized cash deposits as income to the Assessee. The ITAT criticized the reliance on inconclusive CCTV footage and statements from individuals no longer associated with the relevant entities. This judgment underscores the necessity for a thorough investigation and concrete evidence in tax assessments. For a detailed analysis, please read the full article penned by our associate Ms. Purvi Garg here: https://lnkd.in/gxAJES82 #MetalegalAdvocates #MetalegalCourtRuling #ITAT #TaxLaw #IncomeTaxAppellateTribunal #TaxCompliance #Demonetisation #LegalInsights

Keep this in mind if your input is blocked HIGH COURT OF BOMBAY Seya Industries Ltd. v. State of Maharashtra * Where, respondent-DGGI issued show cause notice regarding allegedinadmissible Input Tax Credit availed by assessee, blocked amount from availableITC in assessee’s Electronic Credit Ledger on 23-11-2022, one year period expired on23-11-2023, restriction imposed lapsed in view of sub-rule (3) of Rule 86A of CGSTRules, impugned order was to be set aside Stay connected with GSTGUY Disclaimer This video is only for informational purposes #gst #gstupdates #gstindia #section86A #fraudactivity #igstact #gstregistration #gstcouncil

The Jan Vishwas (Amendment of Provisions) Act, 2023, has a profound impact on businesses' intellectual property (IP) rights in India.The Act marks significant shift in how IP rights are enforced in India, offering businesses a more predictable, less punitive, and overall more supportive environment. Here’s how: Reduced Legal Risks Decriminalization of Minor Offences: By removing criminal penalties for certain IP-related offences, the Act significantly reduces the risk of criminal prosecution for businesses. This is particularly beneficial for small and medium-sized enterprises (SMEs) that might previously have been vulnerable to harsh legal consequences for minor or inadvertent violations. Financial Predictability Capped Civil Penalties: The shift from criminal penalties to civil fines, which are capped at specific amounts, allows businesses to better predict and manage potential legal costs associated with IP violations. This financial predictability is essential for effective business planning and risk management, helping companies allocate resources more efficiently. Streamlined Dispute Resolution Efficient Enforcement Mechanisms: The introduction of adjudicating officers under the Trade Marks Act provides a quicker and less adversarial means of resolving IP disputes. This streamlined process can lead to faster resolutions, allowing businesses to focus more on growth and innovation rather than being entangled in prolonged legal battles. Encouragement for Compliance A Less Punitive Approach: The move from criminal to civil penalties encourages businesses to comply with IP laws without the fear of severe criminal sanctions. This approach creates a more business-friendly environment where compliance is seen as achievable and manageable rather than punitive. Protection of Business Reputation Avoiding Criminal Convictions: By eliminating the threat of criminal penalties, businesses can better protect their reputations. Civil penalties are generally less damaging to a company's image than criminal convictions, which is crucial in industries where brand and public perception are key to success. Enhanced Innovation and Growth Supportive Legal Environment: With reduced legal risks and more predictable enforcement, businesses can operate with greater confidence. This supportive legal framework encourages innovation and growth, making India a more attractive destination for IP-driven industries. This is a positive development for companies looking to innovate and grow in a legally secure and business-friendly landscape. What are your thoughts? #ipr #trademark #copyright #smallbusinesses #patent #design #media #entertainment #startups #attorney #law #lawyer #legislation #legalupdates #legalnews