Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Availment of ITC of differential IGST paid post on-site audit by Customs authorities - To be treated as voluntary paid or not - The AAR ruled that the differential IGST paid by the applicant does not qualify for ITC under Section 17(5) of the CGST/TNGST Act, 2017. The authority found that the case involved willful misstatement by the applicant to evade tax, discovered during an audit. It was determined that since the differential IGST paid was in connection with an audit finding of willful misstatement or suppression of facts, it fell under the restrictions of Section 17(5), which denies ITC in cases where tax has been paid in accordance with the provisions of sections 74, 129, and 130.
Availment of ITC of differential IGST paid post on-site audit by Customs authorities - To be treated as voluntary paid or not - The AAR ruled that the differential IGST paid by the applicant does not qualify for ITC under Section 17(5) of the CGST/TNGST Act, 2017. The authority found that the case involved willful misstatement by the applicant to evade tax, discovered during an audit. It was determined that since the differential IGST paid was in connection with an audit finding of willful misstatement or suppression of facts, it fell under the restrictions of Section 17(5), which denies ITC in cases where tax has been paid in accordance with the provisions of sections 74, 129, and 130.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
