Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Transitional input tax credit carried forward through Form TRAN-1 may be examined by the competent GST authority under Rules 117 and 121 of the GST Rules, 2017, rather than through a VAT assessment. A service provider was not entitled to claim VAT input tax credit because it was not engaged in the sale or purchase of goods, so disallowance of the credit in the VAT assessment was sustained. However, the VAT assessing officer lacked jurisdiction to recover tax, interest or penalty relating to credit transitioned into the GST regime; that demand was set aside.
Transitional input tax credit carried forward through Form TRAN-1 may be examined by the competent GST authority under Rules 117 and 121 of the GST Rules, 2017, rather than through a VAT assessment. A service provider was not entitled to claim VAT input tax credit because it was not engaged in the sale or purchase of goods, so disallowance of the credit in the VAT assessment was sustained. However, the VAT assessing officer lacked jurisdiction to recover tax, interest or penalty relating to credit transitioned into the GST regime; that demand was set aside.
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