Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
In light of the legal provisions and precedent, the Court held that even if excess stock is found during a survey, proceedings u/s 130 of the UPGST Act cannot be initiated. The proper course of action is to determine tax liability u/s 35(6) by following the procedure established u/s 74. Consequently, the impugned orders passed by the authorities initiating proceedings u/s 130 were quashed, and the petition was allowed, in line with the Court's earlier judgment in M/S METENERE LTD. VERSUS UNION OF INDIA AND ANOTHER.
In light of the legal provisions and precedent, the Court held that even if excess stock is found during a survey, proceedings u/s 130 of the UPGST Act cannot be initiated. The proper course of action is to determine tax liability u/s 35(6) by following the procedure established u/s 74. Consequently, the impugned orders passed by the authorities initiating proceedings u/s 130 were quashed, and the petition was allowed, in line with the Court's earlier judgment in M/S METENERE LTD. VERSUS UNION OF INDIA AND ANOTHER.
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