:: Welcome J. Loyalka & Co. ::

Welcome to J. Loyalka & Co.

J. LOYALKA & CO. is a firm of Chartered Accountants providing consultancy, compliance, audit and other related services in the field of Direct Taxes, Indirect Taxes and Corporate Laws for more than 5 decades. Our common objective of providing best services to our clients. We strive to maintain highest standards of services in diverse disciplines to our client requirements under one roof.

We work with a solution- based approach catering to multidisciplinary requirements of our clients based on our highly experienced team.

Our partners have rich experience in this field. With a combination of young professionals and experienced accountant experts, we provide a unique package to our clients changing needs.

News Section

News

27 Dec 24
GST Council Exempts Gift Vouchers from Taxation, Bringing Relief to Retail and Corporate Sectors
Patna HC Upholds GST Registration Cancellation, Emphasizes Timely Use of Legal Remedies
GST Authorities Issue Tax Notices to CNG Cylinder Providers for Incorrectly Applying 18% GST
Calcutta HC: Writ Petitions Cannot Undermine GST Department’s Adjudication Process
26 Dec 24
GST on SaaS Model: Ride-Hailing Platforms Seek Clarity Amid Delayed GST Council Decision
55th GST Council Meeting Proposes to Reduce 25% Pre-deposit to 10% for Penalty Appeals u/s 107 & 112 of CGST Act
GST Hike on Used Vehicles May Drive More Transactions to Informal Channels
25 Dec 24
FM Nirmala Sitharaman Explains GST Rates on All Types of Popcorn
Madras HC Permits Last Opportunity to Explain Mismatch B/W GST Returns Forms 3B and 9C
Kerala HC: GST Order Issued U/S 73 Must Include Digital or Manual Signature of the Officer to Be Valid
22 Dec 24
55th GST Council Meeting: Key Highlights
Scrutiny of GST Returns Under Section 61 of the CGST Act
Delhi HC: Telecom Towers Are Movable Properties and Eligible for GST Input Tax Credit
21 Dec 24
SC Rules Coconut Oil Used as Edible Attracts 5% GST, While Hair Oil is Taxed at 18%
Calcutta HC: Regulatory Measures Under GST Can’t Be Marked as Violations of Assessee’s Rights Under Article 19(1)(g)
Delhi HC Grants Relief to Logistics Firm, Criticizes ‘Template’ GST Orders and Stresses Fair Adjudication of SCN
19 Dec 24
CBIC Chairman launches new initiatives to enhance taxpayer services
55th GST Council Meeting: Possible GST Relief on Food Delivery Charges
GSTN Advisory: Multi-Factor Authentication and New GST Provisions for E-Way Bills
MCA Department Notifies Approx. 1.13 Lakh Companies Registered in FY 2024-25
18 Dec 24
Vivad Se Vishwas Scheme 2024: New FAQs Released on Eligibility and Tax Payment Rules
GCCI Calls for New SOP for GST Registration to Ensure Business Compliance
PB & HR HC Upholds GST Dept’s Right to Conduct Preliminary Inquiry into Accounting Records
Tax Dept Cannot Issue Order Against Corporate Debtor: Bombay HC Cancels GST Demand Order
17 Dec 24
Rs 4.67 Crore Tax for D Gukesh: Fans Target FM Sitharaman After Chess Win
SC Overturns HC Order on Section 148A(b) Notice to Deceased, Shifts Onus to Legal Representatives
Rajasthan HC: CGST Provisions for Time-Bound Submission of GST TRAN-1 Declaration to Claim Credit Are Mandatory, Not Directory
GST Council may increase tax on old and used vehicles, including EVs, to 18%
16 Dec 24
IT Department Issues Notices to Indian Residents for Undeclared Foreign ESOPs and Assets
Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Odisha
Income Tax Refunds Soar 46.31% to Rs 3.08 Lakh Crore in FY 2024-25 - Finance Ministry
15 Dec 24
Jharkhand HC: GST Credit Allowed on Delayed GSTR-3B, Directs Refund of Penalty and Interest to Petitioner
Madras HC Allows Final Chance to Petitioner for Explaining Discrepancies Over GST Returns Mismatch
Jharkhand HC: GST Credit Allowed on Delayed GSTR-3B, Directs Refund of Penalty and Interest to Petitioner
14 Dec 24
Allahabad HC: Assessee Can’t Submit Mandatory Documents After Plea Acceptance & GST Notice Issuance
Tamil Nadu GST Authority Issues Tax Demand Notice to Indian Railway Finance Corporation (IRFC)
MCA Dept Launches E-Adjudication Facility to Ease Business Operations
13 Dec 24
New Advisory on Mismatched Values Between GSTR-9 Tables 8A and 8C for FY 2023-24
Madras HC Directs Petitioner for 25% Pre-Deposit, Treats Impugned GST Order as SCN for Fresh Hearing
Tamil Nadu GST Authority Issues Tax Demand Notice to Indian Railway Finance Corporation (IRFC)
12 Dec 24
Allahabad HC: Assessee Can’t Submit Mandatory Documents After Plea Acceptance & GST Notice Issuance
Tamil Nadu GST Authority Issues Tax Demand Notice to Indian Railway Finance Corporation (IRFC)
MCA Dept Launches E-Adjudication Facility to Ease Business Operations
11 Dec 24
Madras HC Orders Fresh Hearing for R.B. Traders Due to GST Consultant’s Lapse; 90% of Disputed Tax Paid
Budget 2025: MSME Traders Want GST Reduction, Technology Upgrades, and PLI Expansion
10 Dec 24
IRDAI and DFS Welcome Proposal to Lower GST Rates on Various Health Policies
GST Dept Detects ?35,132 Crore Tax Credit Evasion; 69 Arrested, Govt Reveals
09 Dec 24
Gauhati HC: GST DRC-01 Summary Cannot Replace Mandatory SCN U/S 73(1) of CGST Act
Punjab and Haryana High Court: GST Appeal Cannot Be Canceled Due to Non-payment of the Requisite Fee
Karnataka Reports 26% Growth in Women Filing Income Tax Returns Over the Past Five Years

27 Dec 24

GST Council Exempts Gift Vouchers from Taxation, Bringing Relief to Retail and Corporate Sectors

Patna HC Upholds GST Registration Cancellation, Emphasizes Timely Use of Legal Remedies

GST Authorities Issue Tax Notices to CNG Cylinder Providers for Incorrectly Applying 18% GST

Calcutta HC: Writ Petitions Cannot Undermine GST Department’s Adjudication Process

26 Dec 24

GST on SaaS Model: Ride-Hailing Platforms Seek Clarity Amid Delayed GST Council Decision

55th GST Council Meeting Proposes to Reduce 25% Pre-deposit to 10% for Penalty Appeals u/s 107 & 112 of CGST Act

GST Hike on Used Vehicles May Drive More Transactions to Informal Channels

25 Dec 24

FM Nirmala Sitharaman Explains GST Rates on All Types of Popcorn

Madras HC Permits Last Opportunity to Explain Mismatch B/W GST Returns Forms 3B and 9C

Kerala HC: GST Order Issued U/S 73 Must Include Digital or Manual Signature of the Officer to Be Valid

22 Dec 24

55th GST Council Meeting: Key Highlights

Scrutiny of GST Returns Under Section 61 of the CGST Act

Delhi HC: Telecom Towers Are Movable Properties and Eligible for GST Input Tax Credit

21 Dec 24

SC Rules Coconut Oil Used as Edible Attracts 5% GST, While Hair Oil is Taxed at 18%

Calcutta HC: Regulatory Measures Under GST Can’t Be Marked as Violations of Assessee’s Rights Under Article 19(1)(g)

Delhi HC Grants Relief to Logistics Firm, Criticizes ‘Template’ GST Orders and Stresses Fair Adjudication of SCN

19 Dec 24

CBIC Chairman launches new initiatives to enhance taxpayer services

55th GST Council Meeting: Possible GST Relief on Food Delivery Charges

GSTN Advisory: Multi-Factor Authentication and New GST Provisions for E-Way Bills

MCA Department Notifies Approx. 1.13 Lakh Companies Registered in FY 2024-25

18 Dec 24

Vivad Se Vishwas Scheme 2024: New FAQs Released on Eligibility and Tax Payment Rules

GCCI Calls for New SOP for GST Registration to Ensure Business Compliance

PB & HR HC Upholds GST Dept’s Right to Conduct Preliminary Inquiry into Accounting Records

Tax Dept Cannot Issue Order Against Corporate Debtor: Bombay HC Cancels GST Demand Order

17 Dec 24

Rs 4.67 Crore Tax for D Gukesh: Fans Target FM Sitharaman After Chess Win

SC Overturns HC Order on Section 148A(b) Notice to Deceased, Shifts Onus to Legal Representatives

Rajasthan HC: CGST Provisions for Time-Bound Submission of GST TRAN-1 Declaration to Claim Credit Are Mandatory, Not Directory

GST Council may increase tax on old and used vehicles, including EVs, to 18%

16 Dec 24

IT Department Issues Notices to Indian Residents for Undeclared Foreign ESOPs and Assets

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Odisha

Income Tax Refunds Soar 46.31% to Rs 3.08 Lakh Crore in FY 2024-25 - Finance Ministry

15 Dec 24

Jharkhand HC: GST Credit Allowed on Delayed GSTR-3B, Directs Refund of Penalty and Interest to Petitioner

Madras HC Allows Final Chance to Petitioner for Explaining Discrepancies Over GST Returns Mismatch

Jharkhand HC: GST Credit Allowed on Delayed GSTR-3B, Directs Refund of Penalty and Interest to Petitioner

14 Dec 24

Allahabad HC: Assessee Can’t Submit Mandatory Documents After Plea Acceptance & GST Notice Issuance

Tamil Nadu GST Authority Issues Tax Demand Notice to Indian Railway Finance Corporation (IRFC)

MCA Dept Launches E-Adjudication Facility to Ease Business Operations

13 Dec 24

New Advisory on Mismatched Values Between GSTR-9 Tables 8A and 8C for FY 2023-24

Madras HC Directs Petitioner for 25% Pre-Deposit, Treats Impugned GST Order as SCN for Fresh Hearing

Tamil Nadu GST Authority Issues Tax Demand Notice to Indian Railway Finance Corporation (IRFC)

12 Dec 24

Allahabad HC: Assessee Can’t Submit Mandatory Documents After Plea Acceptance & GST Notice Issuance

Tamil Nadu GST Authority Issues Tax Demand Notice to Indian Railway Finance Corporation (IRFC)

MCA Dept Launches E-Adjudication Facility to Ease Business Operations

11 Dec 24

Madras HC Orders Fresh Hearing for R.B. Traders Due to GST Consultant’s Lapse; 90% of Disputed Tax Paid

Budget 2025: MSME Traders Want GST Reduction, Technology Upgrades, and PLI Expansion

10 Dec 24

IRDAI and DFS Welcome Proposal to Lower GST Rates on Various Health Policies

GST Dept Detects ?35,132 Crore Tax Credit Evasion; 69 Arrested, Govt Reveals

09 Dec 24

Gauhati HC: GST DRC-01 Summary Cannot Replace Mandatory SCN U/S 73(1) of CGST Act

Punjab and Haryana High Court: GST Appeal Cannot Be Canceled Due to Non-payment of the Requisite Fee

Karnataka Reports 26% Growth in Women Filing Income Tax Returns Over the Past Five Years

Due Date Reminder

Jan	Feb	Mar	Apr	May	June
July	Aug	Sep	Oct	Nov	Dec
All

28 Dec 24 Return for November by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them.

30 Dec 24 Deposit of TDS u/s 194-IA on payment made for purchase of property in November.

30 Dec 24 Deposit of TDS u/s 194-IB @ 5% on total payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) during FY 24-25, where lease has terminated in November (Else TDS is to be deposited on annual basis by 30 April of next year.)

30 Dec 24 Deposit of TDS on certain payments made by individual/HUF u/s 194M for November.

30 Dec 24 Deposit of TDS on Virtual Digital Assets u/s 194S for November.

31 Dec 24 Filing of Belated/ Revised Income Tax returns for AY 24-25 for all assessees if assessement not completed.

31 Dec 24 GST Annual Return for 23-24. Mandatory if Turnover > 2 cr.

31 Dec 24 GST Audit Report for 23-24. Mandatory if Turnover > 5 cr.

31 Dec 24 RBI Annual Performance Report by All entities having investment outside India.

31 Dec 24 Quarter 3 – Board Meeting of All Companies.

31 Dec 24 Payment of membership fee for 2024-25 by ICAI Members.

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