GST turnover reconciliation prevents gross-profit additions where duplicate reporting, rather than off-book sales, explains the reported turnover diff...
Mandatory limitation for final assessments runs from electronic directions under the special statutory timeline, overriding general assessment time li...
Managing director performance commission qualifies as deductible remuneration where it reflects services, salary taxation, declared dividends, and con...
The omission of rule 96(10) of the CGST Rules is to be given retrospective effect from 23 October 2017. The rule had restricted IGST refunds on exports where specified input exemptions or concessional benefits were availed, to prevent double benefits. In the absence of a saving or sunset clause, omission applies to proceedings pending when the rule was removed; the General Clauses Act does not preserve pending proceedings following omission of a rule. Pending proceedings concerning rule 96(10) must therefore be dealt with on that basis. The same treatment applies to the omissions of rules 89(4A) and 89(4B).
The omission of rule 96(10) of the CGST Rules is to be given retrospective effect from 23 October 2017. The rule had restricted IGST refunds on exports where specified input exemptions or concessional benefits were availed, to prevent double benefits. In the absence of a saving or sunset clause, omission applies to proceedings pending when the rule was removed; the General Clauses Act does not preserve pending proceedings following omission of a rule. Pending proceedings concerning rule 96(10) must therefore be dealt with on that basis. The same treatment applies to the omissions of rules 89(4A) and 89(4B).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4937 
