Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Bulk drugs and active pharmaceutical ingredients (APIs) may qualify as "All Drugs and medicines" for concessional IGST treatment where their character, intended use and statutory compliance bring them within the inclusive definition of "drug" under the Drugs and Cosmetics Act. Classification under Customs Tariff Chapters 28 or 29 does not preclude coverage by the description-based drugs and medicines entry, which prevails over general entries for inorganic and organic chemicals. Imports for testing, clinical research, bioavailability or bioequivalence studies retain their pharmaceutical character. The concessional rate applies only if the particular bulk drug or API is not within the specified nil-rate exclusion.
Bulk drugs and active pharmaceutical ingredients (APIs) may qualify as "All Drugs and medicines" for concessional IGST treatment where their character, intended use and statutory compliance bring them within the inclusive definition of "drug" under the Drugs and Cosmetics Act. Classification under Customs Tariff Chapters 28 or 29 does not preclude coverage by the description-based drugs and medicines entry, which prevails over general entries for inorganic and organic chemicals. Imports for testing, clinical research, bioavailability or bioequivalence studies retain their pharmaceutical character. The concessional rate applies only if the particular bulk drug or API is not within the specified nil-rate exclusion.
Note: It is a system-generated summary and is for quick reference only.
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