Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Merchant discount rate in credit-card transactions is a composite charge comprising the acquiring bank fee, issuing bank interchange fee and platform fee. Where service tax has been paid on the entire merchant discount rate, subsequent allocation of the interchange fee to the issuing bank does not create a separately taxable service. A further levy on that retained interchange fee would amount to double taxation, particularly where there is no revenue loss. Service-tax demands on interchange fee, along with consequential interest and penalties, were therefore unsustainable and set aside.
Merchant discount rate in credit-card transactions is a composite charge comprising the acquiring bank fee, issuing bank interchange fee and platform fee. Where service tax has been paid on the entire merchant discount rate, subsequent allocation of the interchange fee to the issuing bank does not create a separately taxable service. A further levy on that retained interchange fee would amount to double taxation, particularly where there is no revenue loss. Service-tax demands on interchange fee, along with consequential interest and penalties, were therefore unsustainable and set aside.
Note: It is a system-generated summary and is for quick reference only.
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