Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Additional input tax credit benefits in construction services must be passed to pre-GST homebuyers through commensurate price reductions under section 171(1) of the CGST Act. Applying the revised computation, including the pre-GST goods component, the determined benefit was quantified; however, documentary evidence accepted in the revised DGAP report showed that the supplier had passed on benefits exceeding that requirement to eligible homebuyers. The revised methodology therefore did not support a profiteering allegation because the full benefit had already been passed on in excess. The proceedings were disposed of with no contravention of section 171 established.
Additional input tax credit benefits in construction services must be passed to pre-GST homebuyers through commensurate price reductions under section 171(1) of the CGST Act. Applying the revised computation, including the pre-GST goods component, the determined benefit was quantified; however, documentary evidence accepted in the revised DGAP report showed that the supplier had passed on benefits exceeding that requirement to eligible homebuyers. The revised methodology therefore did not support a profiteering allegation because the full benefit had already been passed on in excess. The proceedings were disposed of with no contravention of section 171 established.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
