Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
Adjustment of integrated tax paid under the wrong head against intra-State tax liability requires Section 77(2) to be read with Rule 92. Rule 92 contemplates setting off a refund entitlement against an outstanding demand through the prescribed adjustment order. The text states that an undisputed erroneous IGST payment for an intra-State supply should not create tax, interest or penalty liability without considering this adjustment mechanism. It describes the quashing of the adjudication, appellate and demand orders and remand for fresh consideration of adjustment under Section 77(2) and Rule 92.
Adjustment of integrated tax paid under the wrong head against intra-State tax liability requires Section 77(2) to be read with Rule 92. Rule 92 contemplates setting off a refund entitlement against an outstanding demand through the prescribed adjustment order. The text states that an undisputed erroneous IGST payment for an intra-State supply should not create tax, interest or penalty liability without considering this adjustment mechanism. It describes the quashing of the adjudication, appellate and demand orders and remand for fresh consideration of adjustment under Section 77(2) and Rule 92.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
