Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Demand of late fee u/s 47(1) of the CGST / SGST Act - delay in filing of returns - Amnesty Scheme - GST portal does not support payment of late fee for late filing GSTR-9C - The High court ruled that late fees are leviable up to the late filing of the GSTR-9 return and not the GSTR-9C reconciliation statement. - The court noted the introduction of an amnesty scheme by the Central Government, which waived late fees in excess of Rs. 10,000 for non-filers of returns for certain financial years. The petitioner had filed their annual return before the commencement of this scheme, and thus argued for the benefit of the notifications. The court agreed with this contention and found the notices for non-payment of late fees unjust and unsustainable.
Demand of late fee u/s 47(1) of the CGST / SGST Act - delay in filing of returns - Amnesty Scheme - GST portal does not support payment of late fee for late filing GSTR-9C - The High court ruled that late fees are leviable up to the late filing of the GSTR-9 return and not the GSTR-9C reconciliation statement. - The court noted the introduction of an amnesty scheme by the Central Government, which waived late fees in excess of Rs. 10,000 for non-filers of returns for certain financial years. The petitioner had filed their annual return before the commencement of this scheme, and thus argued for the benefit of the notifications. The court agreed with this contention and found the notices for non-payment of late fees unjust and unsustainable.
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