Electronic certificates of origin enable preferential tariffs under the India-New Zealand FTA when format, verification, and filing requirements are m...
Customs approval for liquid cargo exports extends designated jetty operations while existing boarding station and customs area limits remain unchanged...
Mandatory compliance document verification now conditions out-of-charge clearance for imported cosmetics, drugs, and medical devices through PGA-facil...
Double taxation of turnover requires holistic verification across separately registered units and permits limited rectification of overlapping assessm...
Input tax credit claimed in Form GSTR-3B is not denied merely because it is absent from Form GSTR-2A, which operated as a facilitative mechanism during the relevant period; the claimant must nevertheless prove statutory credit conditions, including supplier tax payment. Section 35(6) applies only to goods not accounted for, so verified reconciliation of e-way bills with invoices and ledger entries prevents a demand based on deemed outward supplies. Interest on wrongly availed credit arises only on utilisation, determined where the electronic credit ledger balance falls below that credit; pre-notice tax payment without interest bars notice and penalty. Sales-return credit notes can reduce taxable value and output tax liability subject to statutory conditions, and non-reporting in Form GSTR-1 is a compliance lapse rather than an independent tax liability.
Input tax credit claimed in Form GSTR-3B is not denied merely because it is absent from Form GSTR-2A, which operated as a facilitative mechanism during the relevant period; the claimant must nevertheless prove statutory credit conditions, including supplier tax payment. Section 35(6) applies only to goods not accounted for, so verified reconciliation of e-way bills with invoices and ledger entries prevents a demand based on deemed outward supplies. Interest on wrongly availed credit arises only on utilisation, determined where the electronic credit ledger balance falls below that credit; pre-notice tax payment without interest bars notice and penalty. Sales-return credit notes can reduce taxable value and output tax liability subject to statutory conditions, and non-reporting in Form GSTR-1 is a compliance lapse rather than an independent tax liability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4937 
