Settlement-cheque presumptions survive unsupported security and alteration defences, while individual circumstances may reduce substantive imprisonmen...
Separate business unit compliance for non-SEBI-regulated debenture trustee activities receives an extended implementation timeline amid regulatory rev...
Input Service Distributor credit rules assign eligibility, reversals and refund treatment to recipients while excluding transfer invoices from turnove...
Related-party creditor exclusion bars CoC participation where lender rights show policy-making involvement, and post-CIRP assignment cannot cure ineli...
Section 16(5) of the CGST Act operates retrospectively notwithstanding section 16(4), permitting input tax credit for specified financial years where the section 39 return was filed by 30 November 2021. Input tax credit cannot be reversed solely for breach of the ordinary limitation provision when this retrospective exception applies. Recovery founded only on that limitation ground is correspondingly unsustainable, while proceedings concerning other substantive input tax credit eligibility conditions remain unaffected. Consequential relief includes de-freezing bank accounts and refunding or adjusting amounts recovered solely on the limitation ground.
Section 16(5) of the CGST Act operates retrospectively notwithstanding section 16(4), permitting input tax credit for specified financial years where the section 39 return was filed by 30 November 2021. Input tax credit cannot be reversed solely for breach of the ordinary limitation provision when this retrospective exception applies. Recovery founded only on that limitation ground is correspondingly unsustainable, while proceedings concerning other substantive input tax credit eligibility conditions remain unaffected. Consequential relief includes de-freezing bank accounts and refunding or adjusting amounts recovered solely on the limitation ground.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4934 
