Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Transitional credit - TDS was transitioned under Section 140 of the TNGST Act, 2017, along with the “purchase tax” - The High court held that there is no scope for transitioning TDS credit under Section 140 of the TNGST Act, 2017, as it applies only to ITC. However, it noted that if TDS had remained unutilized for discharging tax liability under the TNVAT Act, there should be a fresh adjustment of the amount from VAT-TDS towards the petitioner's tax liability, and any remaining ITC should be transitioned under Section 140 of the TNGST Act, 2017, or refunded.
Transitional credit - TDS was transitioned under Section 140 of the TNGST Act, 2017, along with the “purchase tax” - The High court held that there is no scope for transitioning TDS credit under Section 140 of the TNGST Act, 2017, as it applies only to ITC. However, it noted that if TDS had remained unutilized for discharging tax liability under the TNVAT Act, there should be a fresh adjustment of the amount from VAT-TDS towards the petitioner's tax liability, and any remaining ITC should be transitioned under Section 140 of the TNGST Act, 2017, or refunded.
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