Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
Pre-GST service tax paid on advances for flat bookings later cancelled after the appointed day does not qualify as input tax under the CGST/SGST Acts and cannot be carried as GST input tax credit. Where services are ultimately unprovided, the transitional provision requires the service-tax refund claim to be processed under the existing law and paid in cash. Taxpayers cannot adjust that claim through an electronic credit ledger without specific statutory authority. The claimed GST credit was therefore inadmissible.
Pre-GST service tax paid on advances for flat bookings later cancelled after the appointed day does not qualify as input tax under the CGST/SGST Acts and cannot be carried as GST input tax credit. Where services are ultimately unprovided, the transitional provision requires the service-tax refund claim to be processed under the existing law and paid in cash. Taxpayers cannot adjust that claim through an electronic credit ledger without specific statutory authority. The claimed GST credit was therefore inadmissible.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
