Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
Stakeholder-list modification permits liquidators to update entries on new information, subject to notifying the Adjudicating Authority within prescri...
Input tax credit proportionate to consideration unpaid beyond 180 days must be added to output tax liability, and interest runs from availment until a financial or commercial credit note is received and recorded. A supplier's full waiver through such a credit note leaves no unpaid supply value and permits retention of original-invoice credit because the note does not reduce transaction value or invoice tax; beneficial Board clarifications bind departmental officers. Recorded unpaid balances and a bona fide view, later supported by clarification, do not establish fraud, wilful misstatement, or suppression merely because audit detected the issue. The GST demand for credit and penalty fail, while interest for the intervening period remains payable.
Input tax credit proportionate to consideration unpaid beyond 180 days must be added to output tax liability, and interest runs from availment until a financial or commercial credit note is received and recorded. A supplier's full waiver through such a credit note leaves no unpaid supply value and permits retention of original-invoice credit because the note does not reduce transaction value or invoice tax; beneficial Board clarifications bind departmental officers. Recorded unpaid balances and a bona fide view, later supported by clarification, do not establish fraud, wilful misstatement, or suppression merely because audit detected the issue. The GST demand for credit and penalty fail, while interest for the intervening period remains payable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
