Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
GST registration cancelled for non-filing of returns can be restored where the taxpayer files all pending returns and pays the tax dues, applicable interest and late fee, because the proviso to Rule 22(4) of the CGST Rules permits the proper officer to drop cancellation proceedings in such cases. As cancellation carries serious civil consequences, the authority must consider a proper restoration application in accordance with law once the statutory requirements are met. The text links this relief to principles of natural justice and the officer's power to restore registration on compliance.
GST registration cancelled for non-filing of returns can be restored where the taxpayer files all pending returns and pays the tax dues, applicable interest and late fee, because the proviso to Rule 22(4) of the CGST Rules permits the proper officer to drop cancellation proceedings in such cases. As cancellation carries serious civil consequences, the authority must consider a proper restoration application in accordance with law once the statutory requirements are met. The text links this relief to principles of natural justice and the officer's power to restore registration on compliance.
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