Dear Friends,

This festive season we all have witnessed the hussel and bussel in the markets at the pre-pandemic level. It is a welcome sign especially when the major economics of the world are reeling under recession due to several factors. The Ministry of Finance on their portal on 1st November, 2022 reported that the revenue for October, 2022 is second highest monthly collection, next only to the collection in April, 2022 and it is for the second time the gross GST collection has crossed Rs.1.50 Lakh crore mark. October also saw the second highest collection from domestic transactions, next only to April, 2022. This in the ninth month and for eight months in a row now, that the monthly GST revenues have been more than the Rs.1.4 lakh core mark. During the month of September, 2022, 8.3 crore e-way bills were generated, which was significantly higher than 7.7 crore e-way bills generated in August, 2022. This bright picture is eclipsed by the snale’s pace at which the appeals are being disposed of at the first appellate level. It is important to note that till now the Appellate Tribunal under the GST regime has not at been constituted.

Under the Direct taxes also, huge number of appeals are pending before the Commissioner (Appeals) stage. The Government has to take immediate steps to rectify this to provide faster dispute resolution of the tax disputes.

Digressing from the tax matters, I am tempted to quote Stephen Covey from The 7 habits of Highly Effective People “The successful person has the habit of doing the things failures don’t like to do. They don’t like doing them either necessarily. But their disliking is subordinated to the strength of their purpose mission, a clear sense of direction and value, a burning “yes” inside that makes it possible to say “no” to other things. It also requires independent will, the power to do something when you don’t want to do it, to be a function of your values rather than a function of the impulse or desire of any given moment”. The above lines are very relevant for we professionals. I personally feel that they aptly describe we professionals.

In the present issue of the All India Federation of Tax Practitioners – Journal we are digesting the important decisions of Tribunal, High Court and Supreme Court. I thank my research time for their valuable contribution. My special thanks to Ms. Neelam Jadhav, Advocate, for helping me in compiling this issue.

K. Gopal,


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