Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
Section 115BBE classification requires a valid deeming-provision basis before special taxation, while the enhanced rate's temporal application remains...
Page of 4878
Press 'Enter' after typing page number.
381 to 400 of 97553 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Entry 27 exempts services of extending deposits, loans or advances where consideration is represented by interest or discount, except interest in credit-card services; qualifying interest recovery is therefore exempt from GST. A taxpayer claiming that turnover reported in one State actually comprised exempt interest attributable to another State must prove that assertion through cogent documentary evidence. Form GSTR-09C and a Chartered Accountant's certificate without disclosed findings or identifiable documentary support do not discharge that burden. Failure to provide supporting evidence permits an adverse inference, leaving the disputed turnover unestablished as exempt interest and resulting in rejection of the claim.
Entry 27 exempts services of extending deposits, loans or advances where consideration is represented by interest or discount, except interest in credit-card services; qualifying interest recovery is therefore exempt from GST. A taxpayer claiming that turnover reported in one State actually comprised exempt interest attributable to another State must prove that assertion through cogent documentary evidence. Form GSTR-09C and a Chartered Accountant's certificate without disclosed findings or identifiable documentary support do not discharge that burden. Failure to provide supporting evidence permits an adverse inference, leaving the disputed turnover unestablished as exempt interest and resulting in rejection of the claim.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4878 
