TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
A circular issued by the Government of India provides clarifications on issues related to a special procedure for manufacturers of specified commodities under Notification No. 04/2024-Central Tax. The procedure was revised following the rescission of a prior notification. The circular addresses concerns raised by trade associations, including the non-availability of machine details, electricity consumption rating declaration, reporting values in forms, and the applicability of the special procedure to different scenarios like SEZ units and manual packing operations. It specifies qualifications for Chartered Engineers certifying details and emphasizes compliance for all involved parties in the manufacturing process.
A circular issued by the Government of India provides clarifications on issues related to a special procedure for manufacturers of specified commodities under Notification No. 04/2024-Central Tax. The procedure was revised following the rescission of a prior notification. The circular addresses concerns raised by trade associations, including the non-availability of machine details, electricity consumption rating declaration, reporting values in forms, and the applicability of the special procedure to different scenarios like SEZ units and manual packing operations. It specifies qualifications for Chartered Engineers certifying details and emphasizes compliance for all involved parties in the manufacturing process.
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