Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
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Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Valuation of service - works contract service or not - The CESTAT held that the appellant’s contracts were clearly split into goods and services, which did not meet the criteria of a 'works contract' under the relevant tax laws. It was noted that the appellant had appropriately paid taxes—VAT on goods and service tax on installation services—as per the contract terms, which were well-supported by invoices. - Further the tribunal held that since the repeal of certain provisions and notifications post-July 2012, the show cause notices based on these repealed laws were incorrect. - Ultimately, the Tribunal concluded that the respondent’s approach of inclusion / amalgamating the value of goods and services for taxation under a 'works contract' was unfounded.
Valuation of service - works contract service or not - The CESTAT held that the appellant’s contracts were clearly split into goods and services, which did not meet the criteria of a 'works contract' under the relevant tax laws. It was noted that the appellant had appropriately paid taxes—VAT on goods and service tax on installation services—as per the contract terms, which were well-supported by invoices. - Further the tribunal held that since the repeal of certain provisions and notifications post-July 2012, the show cause notices based on these repealed laws were incorrect. - Ultimately, the Tribunal concluded that the respondent’s approach of inclusion / amalgamating the value of goods and services for taxation under a 'works contract' was unfounded.
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