Year-wise GST tax periods make composite show cause notices impermissible, requiring separate proceedings despite contrary non-jurisdictional preceden...
Prior APA methodology guides transfer pricing benchmarking where consistent FAR profiles support comparability and arm's length margins eliminate adju...
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Refund of unutilised input tax credit under an inverted duty structure extends to packing materials, labels, cartons and plastic containers used to market packaged tea. Section 54(3)(ii) treats such materials as inputs and does not distinguish between principal and ancillary inputs; comparison of bulk tea and packaged tea without considering packaging inputs is therefore incorrect. Circular No. 135/5/2020-GST addresses credit accumulation caused by a rate reduction on the same goods at different times and does not apply where bulk and packaged tea bear the same tax rate. Administrative circulars cannot add to or curtail the statutory refund entitlement.
Refund of unutilised input tax credit under an inverted duty structure extends to packing materials, labels, cartons and plastic containers used to market packaged tea. Section 54(3)(ii) treats such materials as inputs and does not distinguish between principal and ancillary inputs; comparison of bulk tea and packaged tea without considering packaging inputs is therefore incorrect. Circular No. 135/5/2020-GST addresses credit accumulation caused by a rate reduction on the same goods at different times and does not apply where bulk and packaged tea bear the same tax rate. Administrative circulars cannot add to or curtail the statutory refund entitlement.
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