Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Commission income in agency business should be determined with reference to the limited mark-up permitted under principal-agent arrangements, rather than by applying a net-profit rate to gross bank receipts. The material describes estimation at 5 per cent of gross bank receipts from recharge vouchers and goods. It also addresses penalty for non-maintenance of books where bank receipts represent agency transactions rather than the agent's turnover. As ownership of the goods remains with the principals, such receipts cannot be treated as turnover; absence of evidence of prior-year turnover further undermines the penalty basis.
Commission income in agency business should be determined with reference to the limited mark-up permitted under principal-agent arrangements, rather than by applying a net-profit rate to gross bank receipts. The material describes estimation at 5 per cent of gross bank receipts from recharge vouchers and goods. It also addresses penalty for non-maintenance of books where bank receipts represent agency transactions rather than the agent's turnover. As ownership of the goods remains with the principals, such receipts cannot be treated as turnover; absence of evidence of prior-year turnover further undermines the penalty basis.
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