Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Penalties, late fees, penal interest, and fines levied by RBI for contravention or violation of laws are for maintaining discipline and deterrence, not consideration for services, hence not taxable under GST as per circular. Penalties for non-performance or underperformance by vendors as per contract with RBI are liquidated damages to compensate for loss, not consideration for services, hence not taxable under GST as per circular.
Penalties, late fees, penal interest, and fines levied by RBI for contravention or violation of laws are for maintaining discipline and deterrence, not consideration for services, hence not taxable under GST as per circular. Penalties for non-performance or underperformance by vendors as per contract with RBI are liquidated damages to compensate for loss, not consideration for services, hence not taxable under GST as per circular.
Note: It is a system-generated summary and is for quick reference only.
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