Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Service tax on corporate guarantees arises only where consideration is received for rendering a taxable service. Corporate guarantees extended to associated enterprises without commission, fee or other consideration do not create taxable value merely because a notional amount can be computed using prevailing bank-guarantee rates. A precedent involving a corporate guarantee issued for paid consideration does not apply where the guarantee was provided without consideration. The demand for service tax on such guarantees was therefore dropped, and the Revenue's appeal was dismissed.
Service tax on corporate guarantees arises only where consideration is received for rendering a taxable service. Corporate guarantees extended to associated enterprises without commission, fee or other consideration do not create taxable value merely because a notional amount can be computed using prevailing bank-guarantee rates. A precedent involving a corporate guarantee issued for paid consideration does not apply where the guarantee was provided without consideration. The demand for service tax on such guarantees was therefore dropped, and the Revenue's appeal was dismissed.
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