Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Refund of CVD/SAD paid - Unable to avail and utilize the credit of CVD/SAD paid by them as payment was made on 30.09.2020 when no provision exist in GST regime to avail such credit - The Appellate Tribunal observed that since the duty payments were made prior to the implementation of the GST regime, during the period when the Cenvat Credit Rules, 2004, were in force, the appellant was entitled to avail Cenvat credit for the duties paid. Section 142(3) of the CGST Act, 2017, provided a remedy for situations where taxpayers couldn't avail or utilize Cenvat credit due to the transition to the GST regime. It allowed refunds for duties that were cenvatable under the previous law, i.e., Central Excise Act, 1944, and rules made thereunder. - The Appellate Tribunal upheld the refund claim of the appellant.
Refund of CVD/SAD paid - Unable to avail and utilize the credit of CVD/SAD paid by them as payment was made on 30.09.2020 when no provision exist in GST regime to avail such credit - The Appellate Tribunal observed that since the duty payments were made prior to the implementation of the GST regime, during the period when the Cenvat Credit Rules, 2004, were in force, the appellant was entitled to avail Cenvat credit for the duties paid. Section 142(3) of the CGST Act, 2017, provided a remedy for situations where taxpayers couldn't avail or utilize Cenvat credit due to the transition to the GST regime. It allowed refunds for duties that were cenvatable under the previous law, i.e., Central Excise Act, 1944, and rules made thereunder. - The Appellate Tribunal upheld the refund claim of the appellant.
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