Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
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Excess input tax credit relating to invoices for FY 2018-19 to 2020-21 was treated as validly reversed through debit entries in the electronic cash and credit ledgers reported in Form GST DRC-03. Absence of reasons in column 8 did not invalidate the reversal, as that field was not mandatory; Form GST DRC-04 acknowledged payment and the reconciliation statement supported full reversal. Section 16(5) extended the relevant ITC entitlement. For a Section 73 demand within Section 128A, interest and penalty require fresh computation after hearing, with waiver available subject to the prescribed procedure.
Excess input tax credit relating to invoices for FY 2018-19 to 2020-21 was treated as validly reversed through debit entries in the electronic cash and credit ledgers reported in Form GST DRC-03. Absence of reasons in column 8 did not invalidate the reversal, as that field was not mandatory; Form GST DRC-04 acknowledged payment and the reconciliation statement supported full reversal. Section 16(5) extended the relevant ITC entitlement. For a Section 73 demand within Section 128A, interest and penalty require fresh computation after hearing, with waiver available subject to the prescribed procedure.
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