Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
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.
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