Faceless assessment and registration procedures are updated through electronic communication, revised recovery rules, extended deadlines, and replacem...
Risk-based selective vessel boarding requires accurate declarations and preserves master and agent liability where physical inspections are not select...
Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Unutilised input tax credit accumulated from an inverted duty structure is refundable where manufacturing inputs are taxed at a higher rate than the outward supply and are distinct from the finished goods. For Agarbati manufacturing, perfumes, fragrances, chemicals, packaging materials and cardboard qualify as inputs whose higher tax rates may support refund eligibility. A CBIC clarification addressing situations where input and output supplies are the same goods does not restrict such claims. CBIC circulars bind central tax officers but not the Appellate Tribunal, although they may carry persuasive value.
Unutilised input tax credit accumulated from an inverted duty structure is refundable where manufacturing inputs are taxed at a higher rate than the outward supply and are distinct from the finished goods. For Agarbati manufacturing, perfumes, fragrances, chemicals, packaging materials and cardboard qualify as inputs whose higher tax rates may support refund eligibility. A CBIC clarification addressing situations where input and output supplies are the same goods does not restrict such claims. CBIC circulars bind central tax officers but not the Appellate Tribunal, although they may carry persuasive value.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
