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Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Section 74(5) of the GST law read with Rule 142(1A) confers a statutory pre-show-cause opportunity to settle the proposed demand by paying tax, interest and reduced penalty, and the Rule must be read consistently with that right. The High Court held that use of the word "may" in Rule 142(1A) cannot defeat the mandatory effect of the principal legislation. Non-issuance of DRC-01A does not by itself make DRC-01 without jurisdiction, but where the noticee invokes the statutory benefit in reply, the assessee cannot be denied the option to discharge the demand. As the petitioner raised that plea, the adjudication was to stand satisfied on payment within the time granted.
Section 74(5) of the GST law read with Rule 142(1A) confers a statutory pre-show-cause opportunity to settle the proposed demand by paying tax, interest and reduced penalty, and the Rule must be read consistently with that right. The High Court held that use of the word "may" in Rule 142(1A) cannot defeat the mandatory effect of the principal legislation. Non-issuance of DRC-01A does not by itself make DRC-01 without jurisdiction, but where the noticee invokes the statutory benefit in reply, the assessee cannot be denied the option to discharge the demand. As the petitioner raised that plea, the adjudication was to stand satisfied on payment within the time granted.
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