Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Nature of supply - Levy of GST - Transfer of an operational outlet - A branch of the same business vertical can be by no stretch of imagination considered as an independent part of the concern - the transfer of business assets is covered under the category of ‘supply of goods’ and in no way is covered by the clause ‘transfer of a going concern, as a whole or an independent part thereof’. Thus, the transaction becomes a taxable event in terms of the provisions of Sec. 7 read with Sec. 9 of the CGST Act, 2017. - AAR
Nature of supply - Levy of GST - Transfer of an operational outlet - A branch of the same business vertical can be by no stretch of imagination considered as an independent part of the concern - the transfer of business assets is covered under the category of ‘supply of goods’ and in no way is covered by the clause ‘transfer of a going concern, as a whole or an independent part thereof’. Thus, the transaction becomes a taxable event in terms of the provisions of Sec. 7 read with Sec. 9 of the CGST Act, 2017. - AAR
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
