International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Transitional CENVAT credit reflected as an undisputed closing balance under the erstwhile service tax regime cannot be reassessed or denied through CGST proceedings merely because its original availment is alleged to have been inadmissible. The notes explain that recovery for wrongful pre-GST CENVAT credit must proceed under the saved provisions of the erstwhile law, not under the CGST Act. They further address transition of Krishi Kalyan Cess credit through TRAN-1, noting the relevance of unoperationalised transitional explanations and applicable High Court guidance. VAT credit on stock-in-trade is described as transitionable where required particulars were furnished and no specific adverse material supports denial. Penalty based solely on TRAN-1 disclosures is also treated as unjustified.
Transitional CENVAT credit reflected as an undisputed closing balance under the erstwhile service tax regime cannot be reassessed or denied through CGST proceedings merely because its original availment is alleged to have been inadmissible. The notes explain that recovery for wrongful pre-GST CENVAT credit must proceed under the saved provisions of the erstwhile law, not under the CGST Act. They further address transition of Krishi Kalyan Cess credit through TRAN-1, noting the relevance of unoperationalised transitional explanations and applicable High Court guidance. VAT credit on stock-in-trade is described as transitionable where required particulars were furnished and no specific adverse material supports denial. Penalty based solely on TRAN-1 disclosures is also treated as unjustified.
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