Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
GST notifications issued under Sections 9 and 11 operate as subordinate legislation and cannot travel beyond the GST Council's recommendation. The HC held that the impugned notifications were ultra vires only to the extent they added the expression "enforceable right in a court of law", because that phrase went beyond the recommendation's reference to an actionable claim; the remaining part of the notifications stayed valid. It further held that the GST Council has no constitutional power of ratification under Article 279A, so the 22nd meeting could not cure the unsupported addition and was without jurisdiction. The writ petitions were allowed and notices founded on the invalid part were set aside, with liberty to issue fresh notices in line with the sustained notifications.
GST notifications issued under Sections 9 and 11 operate as subordinate legislation and cannot travel beyond the GST Council's recommendation. The HC held that the impugned notifications were ultra vires only to the extent they added the expression "enforceable right in a court of law", because that phrase went beyond the recommendation's reference to an actionable claim; the remaining part of the notifications stayed valid. It further held that the GST Council has no constitutional power of ratification under Article 279A, so the 22nd meeting could not cure the unsupported addition and was without jurisdiction. The writ petitions were allowed and notices founded on the invalid part were set aside, with liberty to issue fresh notices in line with the sustained notifications.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
