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...
Input Tax Credit (ITC) - Period of limitation u/s 16(4) - After the decision of Supreme Court in the case of Northern Opertaing Systems, the Petitioner discharged IGST on the payments made to seconded employees/ related entities and availed input tax credit of the IGST paid. The Tax Department sought to deny the input tax credit by applying the time limit under Section 16(4) of the CGST Act, besides demanding interest and penalty. - High Court stayed the SCN for adjudication - HC
Input Tax Credit (ITC) - Period of limitation u/s 16(4) - After the decision of Supreme Court in the case of Northern Opertaing Systems, the Petitioner discharged IGST on the payments made to seconded employees/ related entities and availed input tax credit of the IGST paid. The Tax Department sought to deny the input tax credit by applying the time limit under Section 16(4) of the CGST Act, besides demanding interest and penalty. - High Court stayed the SCN for adjudication - HC
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TaxTMI 
TaxTMI 
of 4916 
