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Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Re-transportation of purchased machinery to the seller for testing without consideration is not a supply under section 7(1)(a) of the CGST/KGST Act and does not attract tax on the movement. Rule 55 permits such movement otherwise than by way of supply under delivery challans, but Rule 138 still requires an e-way bill unless an exemption applies. Transport without the required e-way bill attracts penalty under the second part of section 129(1)(a). The High Court upheld the reduced penalty and consequential refund ordered by the Single Judge, while dismissing the writ appeal.
Re-transportation of purchased machinery to the seller for testing without consideration is not a supply under section 7(1)(a) of the CGST/KGST Act and does not attract tax on the movement. Rule 55 permits such movement otherwise than by way of supply under delivery challans, but Rule 138 still requires an e-way bill unless an exemption applies. Transport without the required e-way bill attracts penalty under the second part of section 129(1)(a). The High Court upheld the reduced penalty and consequential refund ordered by the Single Judge, while dismissing the writ appeal.
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