Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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...
Sub-section (1) in Section 5 amended to not levy integrated tax on Extra Neutral Alcohol used for manufacturing alcoholic liquor for human consumption. Section 6A inserted to empower regularizing non-levy or short levy of integrated tax due to general practice. Sub-section (4) in Section 16 amended to provide for notifying zero-rated supply persons/goods/services for integrated tax refund u/s 54 of CGST Act; Sub-section (5) inserted to disallow refund of unutilized input tax credit or integrated tax paid on zero-rated goods supply subjected to export duty. Section 20 amended to reduce maximum pre-deposit for appeals before appellate authority from Rs. 50 crore to Rs. 40 crore, and before Appellate Tribunal from Rs. 100 crore to Rs. 40 crore of integrated tax.
Sub-section (1) in Section 5 amended to not levy integrated tax on Extra Neutral Alcohol used for manufacturing alcoholic liquor for human consumption. Section 6A inserted to empower regularizing non-levy or short levy of integrated tax due to general practice. Sub-section (4) in Section 16 amended to provide for notifying zero-rated supply persons/goods/services for integrated tax refund u/s 54 of CGST Act; Sub-section (5) inserted to disallow refund of unutilized input tax credit or integrated tax paid on zero-rated goods supply subjected to export duty. Section 20 amended to reduce maximum pre-deposit for appeals before appellate authority from Rs. 50 crore to Rs. 40 crore, and before Appellate Tribunal from Rs. 100 crore to Rs. 40 crore of integrated tax.
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