Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
Erroneous classification of interest as tax in Form GST DRC-07 can improperly trigger the statutory pre-deposit required for a further GST appeal. The notes state that the demand for wrong availment and delayed reversal of input tax credit comprised ITC reversal, interest and penalty, with no disputed tax component; however, interest was recorded as tax and affirmed in appeal. Although the original order was later rectified, limitation prevented correction of the appellate order. The appellate order was set aside and remitted for fresh merits adjudication because a Tribunal appeal would otherwise require pre-deposit on interest wrongly treated as tax.
Erroneous classification of interest as tax in Form GST DRC-07 can improperly trigger the statutory pre-deposit required for a further GST appeal. The notes state that the demand for wrong availment and delayed reversal of input tax credit comprised ITC reversal, interest and penalty, with no disputed tax component; however, interest was recorded as tax and affirmed in appeal. Although the original order was later rectified, limitation prevented correction of the appellate order. The appellate order was set aside and remitted for fresh merits adjudication because a Tribunal appeal would otherwise require pre-deposit on interest wrongly treated as tax.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
