Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Under the GST job-work scheme, the principal must maintain the accounts and records required by Section 143 and Rule 45, and failure to show return of goods within the prescribed period attracts the statutory deeming consequence. On that basis, invocation of Section 74 and the extended limitation was upheld, and the technical challenge to the notices and orders for want of separate recitals of every ingredient was rejected. The assessee's plea of revenue neutrality was not decided in writ proceedings because it depended on disputed facts about tax already suffered on the inputs; that issue was remitted for fresh reply and merits-based reconsideration.
Under the GST job-work scheme, the principal must maintain the accounts and records required by Section 143 and Rule 45, and failure to show return of goods within the prescribed period attracts the statutory deeming consequence. On that basis, invocation of Section 74 and the extended limitation was upheld, and the technical challenge to the notices and orders for want of separate recitals of every ingredient was rejected. The assessee's plea of revenue neutrality was not decided in writ proceedings because it depended on disputed facts about tax already suffered on the inputs; that issue was remitted for fresh reply and merits-based reconsideration.
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