International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Refund of unutilised ITC - inverted duty structure - Denial on Input services - Explanation to Section 54 uses the terms "inputs" and "input services" separately and distinctively, thereby indicating the legislative intent to distinguish one from the other - we are unable to countenance with the submission that the word ''inputs'' should be read so as to include ''input services'' merely because the undefined word ''output supplies'' is used in Section 54(3)(ii)- it is not necessary to interpret Rule 89(5) and, in particular, the definition of Net ITC therein so as to include the words input services. - HC
Refund of unutilised ITC - inverted duty structure - Denial on Input services - Explanation to Section 54 uses the terms "inputs" and "input services" separately and distinctively, thereby indicating the legislative intent to distinguish one from the other - we are unable to countenance with the submission that the word ''inputs'' should be read so as to include ''input services'' merely because the undefined word ''output supplies'' is used in Section 54(3)(ii)- it is not necessary to interpret Rule 89(5) and, in particular, the definition of Net ITC therein so as to include the words input services. - HC
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