Social forestry expenditure requires activity-based classification, limiting book-profit adjustments and preserving penalty relief where normal additi...
Inaccurate-particulars penalties fail where transfer-pricing documentation shows good faith and due diligence, and underlying capital-gains additions ...
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Packing materials, labels, cartons and plastic containers used to market packaged tea qualify as inputs used in the course or furtherance of business and may generate refundable accumulated input tax credit under the inverted duty structure. The refund analysis does not distinguish between principal and ancillary inputs, and identical GST rates on bulk and packaged tea do not exclude credit arising from higher-taxed packing materials. The rate-reduction circular concerning accumulation caused by GST-rate changes on the same goods does not apply where accumulation arises from packing materials, and it cannot restrict a refund otherwise available under the statute. The refund sanction was sustained and the Revenue appeal was dismissed.
Packing materials, labels, cartons and plastic containers used to market packaged tea qualify as inputs used in the course or furtherance of business and may generate refundable accumulated input tax credit under the inverted duty structure. The refund analysis does not distinguish between principal and ancillary inputs, and identical GST rates on bulk and packaged tea do not exclude credit arising from higher-taxed packing materials. The rate-reduction circular concerning accumulation caused by GST-rate changes on the same goods does not apply where accumulation arises from packing materials, and it cannot restrict a refund otherwise available under the statute. The refund sanction was sustained and the Revenue appeal was dismissed.
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