Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Validity of reassessment proceedings - The petitioner sought to quash an order and notice for reassessment under the UP VAT Act for the assessment year 2012-13. The petitioner, a manufacturer of Rice Bran Oil, purchased Rice Bran and produced both RBO and DORB. The revenue acknowledged sales of both products and granted Input Tax Credit accordingly. However, a judgment established that the sale value of both taxable and exempt products should be considered together. Following Supreme Court guidance, the High Court ruled in favor of the petitioner, quashing the reassessment proceedings as they lacked legal basis.
Validity of reassessment proceedings - The petitioner sought to quash an order and notice for reassessment under the UP VAT Act for the assessment year 2012-13. The petitioner, a manufacturer of Rice Bran Oil, purchased Rice Bran and produced both RBO and DORB. The revenue acknowledged sales of both products and granted Input Tax Credit accordingly. However, a judgment established that the sale value of both taxable and exempt products should be considered together. Following Supreme Court guidance, the High Court ruled in favor of the petitioner, quashing the reassessment proceedings as they lacked legal basis.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
