Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Refund of accumulated unutilised input tax credit under an inverted duty structure is available where higher-rated ancillary inputs, including chemicals and packing materials, cause credit accumulation, even if the principal input and output supply attract the same tax rate. Section 54(3) does not distinguish between major and minor inputs. The prescribed refund computation applies under Rule 89(5), and the discussed circular restricting refunds to cases involving higher-rated principal inputs had been declared unconstitutional. The text states that rejected refund claims were to be processed and sanctioned with applicable interest after personal hearing.
Refund of accumulated unutilised input tax credit under an inverted duty structure is available where higher-rated ancillary inputs, including chemicals and packing materials, cause credit accumulation, even if the principal input and output supply attract the same tax rate. Section 54(3) does not distinguish between major and minor inputs. The prescribed refund computation applies under Rule 89(5), and the discussed circular restricting refunds to cases involving higher-rated principal inputs had been declared unconstitutional. The text states that rejected refund claims were to be processed and sanctioned with applicable interest after personal hearing.
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