Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Modified returns after business reorganisation must be assessed within pending proceedings, barring parallel scrutiny and consequential transfer prici...
Turnover mismatches under percentage-completion accounting cannot alone establish suppressed income where customer advances remain recorded as liabili...
Imported IT support services from a related foreign entity constitute imports of services liable to integrated tax under reverse charge. For such supplies, the recipient's self-invoice qualifies as the invoice contemplated by the second proviso to Rule 28(1) and the reverse-charge self-invoicing requirement. Where the recipient is eligible for full input tax credit, the value declared in that self-invoice is deemed to be the open market value. This treatment applies only subject to full input tax credit eligibility on the reverse-charge tax payable.
Imported IT support services from a related foreign entity constitute imports of services liable to integrated tax under reverse charge. For such supplies, the recipient's self-invoice qualifies as the invoice contemplated by the second proviso to Rule 28(1) and the reverse-charge self-invoicing requirement. Where the recipient is eligible for full input tax credit, the value declared in that self-invoice is deemed to be the open market value. This treatment applies only subject to full input tax credit eligibility on the reverse-charge tax payable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
