Split air conditioner classification depends on capacity and refrigeration characteristics, with the specific tariff entry overriding the general desc...
Anti-circumvention measures require provisional assessment and guarantees for Malaysian-exported rock breakers, specified components and alloy steel t...
Audit-based GST fraud demands require evidence of deliberate wrongdoing, with fresh determination and limitation affecting recovery across different y...
Non-woven fabric bag classification follows the textile intermediate, while GST proceedings require reasons, impartial notices and consistent treatmen...
Interest under Section 50(3) requires both wrongful availment and utilisation of input tax credit; wrongful credit reversed without utilisation does not attract interest. Under Rule 88B(3), credit is deemed utilised when the Electronic Credit Ledger balance falls below the wrongly availed credit. Balances under the IGST, CGST and SGST heads are considered collectively under the prescribed methodology. Penalty under Section 73 requires an independent statutory basis where the substantive tax demand arising from a GSTR-1/GSTR-3B mismatch has been set aside; it cannot be retained merely as a matter of course.
Interest under Section 50(3) requires both wrongful availment and utilisation of input tax credit; wrongful credit reversed without utilisation does not attract interest. Under Rule 88B(3), credit is deemed utilised when the Electronic Credit Ledger balance falls below the wrongly availed credit. Balances under the IGST, CGST and SGST heads are considered collectively under the prescribed methodology. Penalty under Section 73 requires an independent statutory basis where the substantive tax demand arising from a GSTR-1/GSTR-3B mismatch has been set aside; it cannot be retained merely as a matter of course.
Note: It is a system-generated summary and is for quick reference only.
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