Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Project-wise anti-profiteering analysis under GST upheld where the Tribunal accepted a case-specific methodology for comparing pre-GST and post-GST ITC, allocated the benefit across similarly situated homebuyers, and rejected objections on natural justice, scope of inquiry, and time limits. It found that additional input tax credit had arisen in the project, that the respondent had not passed on the full recipient-specific benefit, and that excess benefit given to some buyers could not offset shortfall owed to others. The balance amount was sustained with 18% compensatory interest, but penalty was declined because the penal provision was held inapplicable to the period in question.
Project-wise anti-profiteering analysis under GST upheld where the Tribunal accepted a case-specific methodology for comparing pre-GST and post-GST ITC, allocated the benefit across similarly situated homebuyers, and rejected objections on natural justice, scope of inquiry, and time limits. It found that additional input tax credit had arisen in the project, that the respondent had not passed on the full recipient-specific benefit, and that excess benefit given to some buyers could not offset shortfall owed to others. The balance amount was sustained with 18% compensatory interest, but penalty was declined because the penal provision was held inapplicable to the period in question.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
