Alternative statutory remedy under GST bars writ challenge where classification, notice variance, and hearing disputes require factual appellate revie...
Duplicate PAN cancellation timeframe requires prior administrative representation before judicial intervention, ensuring a time-bound decision on the ...
Natural justice and pre-CIRP labour awards protect termination compensation, permitting withdrawal of court deposits despite later insolvency resoluti...
Mandatory reversal of GST input tax credit attributable to unsold units on project completion converts the extinguished credit into an irrecoverable project cost, deductible as business expenditure when final project-wise allocation crystallises. The reversal is not a voluntary write-off or correction of an earlier error, even where no fresh cash payment arises, because GST on inputs has been paid and the related credit becomes unrecoverable. The deduction for credit attributable to unsold completed units is allowable in AY 2022-23. A related post-completion provision requires examination in AY 2023-24 and may be allowed in only one assessment year to prevent double deduction.
Mandatory reversal of GST input tax credit attributable to unsold units on project completion converts the extinguished credit into an irrecoverable project cost, deductible as business expenditure when final project-wise allocation crystallises. The reversal is not a voluntary write-off or correction of an earlier error, even where no fresh cash payment arises, because GST on inputs has been paid and the related credit becomes unrecoverable. The deduction for credit attributable to unsold completed units is allowable in AY 2022-23. A related post-completion provision requires examination in AY 2023-24 and may be allowed in only one assessment year to prevent double deduction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
