Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Composition-scheme eligibility lapses automatically on the day aggregate turnover exceeds the prescribed threshold. Supplies made thereafter are taxable under the regular scheme, with adjustment for composition tax paid on post-lapse turnover; the cessation of composition eligibility was sustained. For post-lapse supplies where tax was not separately collected, invoice values must be treated as tax-inclusive because a composition taxpayer cannot collect tax separately and no additional collection was alleged. Rule 35 requires extraction of the tax component from the cum-tax value. Differential tax, and consequential interest and penalty, must therefore be recomputed on that basis.
Composition-scheme eligibility lapses automatically on the day aggregate turnover exceeds the prescribed threshold. Supplies made thereafter are taxable under the regular scheme, with adjustment for composition tax paid on post-lapse turnover; the cessation of composition eligibility was sustained. For post-lapse supplies where tax was not separately collected, invoice values must be treated as tax-inclusive because a composition taxpayer cannot collect tax separately and no additional collection was alleged. Rule 35 requires extraction of the tax component from the cum-tax value. Differential tax, and consequential interest and penalty, must therefore be recomputed on that basis.
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