Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
After export and assessment of shipping bills, reassessment is unavailable except through recognised legal modes such as appeal, finalisation of provisional assessment, exporter-requested amendment, or correction of clerical error; the declared value and description in already exported goods cannot be reopened. The note further states that DEPB credit is linked to FOB value and transaction value, so customs redetermination of assessable value does not justify denial of DEPB benefit or recovery of duty through used scrips. It also explains that goods already exported fall outside confiscation powers for export goods, and that penalties fail when the underlying duty demand is unsustainable or when false declaration is not established.
After export and assessment of shipping bills, reassessment is unavailable except through recognised legal modes such as appeal, finalisation of provisional assessment, exporter-requested amendment, or correction of clerical error; the declared value and description in already exported goods cannot be reopened. The note further states that DEPB credit is linked to FOB value and transaction value, so customs redetermination of assessable value does not justify denial of DEPB benefit or recovery of duty through used scrips. It also explains that goods already exported fall outside confiscation powers for export goods, and that penalties fail when the underlying duty demand is unsustainable or when false declaration is not established.
Note: It is a system-generated summary and is for quick reference only.
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