Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The Applicant provides research and development services related to the agro-chemical sector, specifically testing and analysis of insecticide-infused mosquito nets. The Applicant sought clarification on the applicability of Notification No. 04/2019-Integrated Tax, which exempts certain research and development services in the pharmaceutical sector from GST. The Authority held that the Notification applies only to services related to the pharmaceutical sector and does not cover the agro-chemical sector. The Applicant's services do not fall within the scope of the Notification as they involve quality studies of insecticide-infused mosquito nets, which are distinct from research and development services aimed at producing new drugs or evaluating drug safety in the pharmaceutical sector. Consequently, the Applicant's services remain taxable u/s 13(3) of the IGST Act, 2017, and the Notification is not applicable.
The Applicant provides research and development services related to the agro-chemical sector, specifically testing and analysis of insecticide-infused mosquito nets. The Applicant sought clarification on the applicability of Notification No. 04/2019-Integrated Tax, which exempts certain research and development services in the pharmaceutical sector from GST. The Authority held that the Notification applies only to services related to the pharmaceutical sector and does not cover the agro-chemical sector. The Applicant's services do not fall within the scope of the Notification as they involve quality studies of insecticide-infused mosquito nets, which are distinct from research and development services aimed at producing new drugs or evaluating drug safety in the pharmaceutical sector. Consequently, the Applicant's services remain taxable u/s 13(3) of the IGST Act, 2017, and the Notification is not applicable.
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