Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Rule 96(10) of the CGST Rules restricted IGST refunds on exports in specified circumstances. The High Court's earlier ruling in M/s Hikal Limited treated the rule as ultra vires section 16 of the IGST Act and manifestly arbitrary. Its subsequent omission without a saving clause meant that proceedings based exclusively on an alleged breach of Rule 96(10) could not continue. Accordingly, a show cause notice seeking to deny or recover an IGST export refund under that rule, along with consequential proceedings, was quashed.
Rule 96(10) of the CGST Rules restricted IGST refunds on exports in specified circumstances. The High Court's earlier ruling in M/s Hikal Limited treated the rule as ultra vires section 16 of the IGST Act and manifestly arbitrary. Its subsequent omission without a saving clause meant that proceedings based exclusively on an alleged breach of Rule 96(10) could not continue. Accordingly, a show cause notice seeking to deny or recover an IGST export refund under that rule, along with consequential proceedings, was quashed.
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