Working capital adjustment, comparable selection and trade receivables interest were revisited in transfer pricing, with key additions deleted and rem...
Belated filing of a GST return after a best judgment assessment under Section 62, together with payment of tax, interest and late fee, is treated as resulting in deemed withdrawal of the assessment order. The note records that once the return for the relevant period was filed and the statutory dues were discharged, recovery under the assessment order could not continue. It follows the cited High Court view that subsequent compliance cures the basis for pursuing recovery under the best judgment assessment.
Belated filing of a GST return after a best judgment assessment under Section 62, together with payment of tax, interest and late fee, is treated as resulting in deemed withdrawal of the assessment order. The note records that once the return for the relevant period was filed and the statutory dues were discharged, recovery under the assessment order could not continue. It follows the cited High Court view that subsequent compliance cures the basis for pursuing recovery under the best judgment assessment.
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