Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Advance ruling was barred where the same input tax credit question was already pending in enforcement proceedings against the applicant. The Authority held that, under the proviso to section 98(2), an advance ruling cannot be admitted on a question already pending in proceedings under the Act in the applicant's case. Because the jurisdictional authority had already initiated action on admissibility of input tax credit for construction of the hotel building, and the applicant did not dispute that fact, the application was rejected without any ruling on the merits.
Advance ruling was barred where the same input tax credit question was already pending in enforcement proceedings against the applicant. The Authority held that, under the proviso to section 98(2), an advance ruling cannot be admitted on a question already pending in proceedings under the Act in the applicant's case. Because the jurisdictional authority had already initiated action on admissibility of input tax credit for construction of the hotel building, and the applicant did not dispute that fact, the application was rejected without any ruling on the merits.
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