Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
GST demand alleging suppression of taxable value in bank guarantees should follow scrutiny and verification of self-assessment returns. The GST framework permits scrutiny, audit, special audit, inspection and investigation to identify possible revenue leakage; a Form GST DRC-01 notice should not be issued directly without first undertaking the relevant exercise. The demand order discussed was quashed and remitted for inspection or investigation and, if warranted, fresh determination of revenue leakage from guarantees issued to customers. The valuation and taxability issues concerning corporate guarantees were left open. Limitation exclusion was directed for the intervening period, and recovery remained in abeyance pending the statutory exercise.
GST demand alleging suppression of taxable value in bank guarantees should follow scrutiny and verification of self-assessment returns. The GST framework permits scrutiny, audit, special audit, inspection and investigation to identify possible revenue leakage; a Form GST DRC-01 notice should not be issued directly without first undertaking the relevant exercise. The demand order discussed was quashed and remitted for inspection or investigation and, if warranted, fresh determination of revenue leakage from guarantees issued to customers. The valuation and taxability issues concerning corporate guarantees were left open. Limitation exclusion was directed for the intervening period, and recovery remained in abeyance pending the statutory exercise.
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