Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
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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