Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Inadvertent payment of GST under the IGST head, where CGST and SGST were actually payable and no IGST liability existed, is treated as a clerical error rather than a payment made under a misconception that the supply was inter-State. Section 77(2) therefore does not apply. Where the full GST liability has effectively been discharged, interest and penalty are not payable. The amount remitted as IGST may be appropriated against the CGST and SGST liability; where procedurally required, refund and transfer of the amount may be sought.
Inadvertent payment of GST under the IGST head, where CGST and SGST were actually payable and no IGST liability existed, is treated as a clerical error rather than a payment made under a misconception that the supply was inter-State. Section 77(2) therefore does not apply. Where the full GST liability has effectively been discharged, interest and penalty are not payable. The amount remitted as IGST may be appropriated against the CGST and SGST liability; where procedurally required, refund and transfer of the amount may be sought.
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