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 ...
Input tax credit benefits in ongoing real estate projects must be passed to all eligible purchasers, including those booking flats after GST where construction continued beyond its introduction. The benefit is project-specific, and renegotiated prices do not establish a commensurate reduction without transparent evidence. Unpassed amounts must be refunded to identified homebuyers rather than deposited in the Consumer Welfare Fund; excess benefit given to some purchasers cannot be set off against amounts due to others. Profiteering includes GST charged on an inflated base price. Interest accrues from each purchaser's last instalment payment until refund. Anti-profiteering penalties do not apply where the completed contravention predated the penalty provision's commencement.
Input tax credit benefits in ongoing real estate projects must be passed to all eligible purchasers, including those booking flats after GST where construction continued beyond its introduction. The benefit is project-specific, and renegotiated prices do not establish a commensurate reduction without transparent evidence. Unpassed amounts must be refunded to identified homebuyers rather than deposited in the Consumer Welfare Fund; excess benefit given to some purchasers cannot be set off against amounts due to others. Profiteering includes GST charged on an inflated base price. Interest accrues from each purchaser's last instalment payment until refund. Anti-profiteering penalties do not apply where the completed contravention predated the penalty provision's commencement.
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