Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Respondent resorted to profiteering by not reducing selling price commensurately despite GST rate reduction from 28% to 18% on cinema tickets above Rs. 100, from 01.01.2019 to 05.02.2019, profiteering Rs. 13,99,061 including GST. Respondent directed to reduce prices keeping rate reduction in view, having revised ticket price from Rs. 150 to Rs. 138 from 06.02.2019 depicting commensurate benefit passing. Respondent denied rate reduction benefit to customers violating Section 171(1) of CGST Act, 2017, committing offence u/s 171(3A) inserted from 01.01.2020, hence penalty u/s 171(3A) cannot be imposed retrospectively for said period.
Respondent resorted to profiteering by not reducing selling price commensurately despite GST rate reduction from 28% to 18% on cinema tickets above Rs. 100, from 01.01.2019 to 05.02.2019, profiteering Rs. 13,99,061 including GST. Respondent directed to reduce prices keeping rate reduction in view, having revised ticket price from Rs. 150 to Rs. 138 from 06.02.2019 depicting commensurate benefit passing. Respondent denied rate reduction benefit to customers violating Section 171(1) of CGST Act, 2017, committing offence u/s 171(3A) inserted from 01.01.2020, hence penalty u/s 171(3A) cannot be imposed retrospectively for said period.
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