Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
GST liability, including interest on delayed payment, must be determined strictly under the statute, and interest arises by operation of law where the fiscal enactment so provides. In the absence of statutory power, authorities cannot waive or reduce interest, or permit filing or amendment of returns in a manner not contemplated by the GST scheme; blanket directions on penalty and limitation are likewise unsustainable. The note also distinguishes contractual reimbursement of incremental GST from statutory tax liability: any claim for reimbursement is an inter se matter between contracting parties and cannot alter the GST regime or bind tax authorities.
GST liability, including interest on delayed payment, must be determined strictly under the statute, and interest arises by operation of law where the fiscal enactment so provides. In the absence of statutory power, authorities cannot waive or reduce interest, or permit filing or amendment of returns in a manner not contemplated by the GST scheme; blanket directions on penalty and limitation are likewise unsustainable. The note also distinguishes contractual reimbursement of incremental GST from statutory tax liability: any claim for reimbursement is an inter se matter between contracting parties and cannot alter the GST regime or bind tax authorities.
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