Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Refund of IGST - Ocean Freight - The High court acknowledged that the Supreme Court judgment was applicable to the petitioner's case. It observed that the IGST levied on the 'service' aspect of transactions under Composite Supply contracts was in violation of the GST Act. The Supreme Court had clarified that imposing a separate levy on the Indian importer for 'supply of services' by the shipping line would violate the Act, as the importer is already liable to pay IGST on the 'composite supply' (which includes both goods and services). - Refund allowed.
Refund of IGST - Ocean Freight - The High court acknowledged that the Supreme Court judgment was applicable to the petitioner's case. It observed that the IGST levied on the 'service' aspect of transactions under Composite Supply contracts was in violation of the GST Act. The Supreme Court had clarified that imposing a separate levy on the Indian importer for 'supply of services' by the shipping line would violate the Act, as the importer is already liable to pay IGST on the 'composite supply' (which includes both goods and services). - Refund allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
