Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
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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.
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