Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
The case involves the adjustment of short-payment of tax with excess payment of service tax on services exported overseas. The appellant sought to adjust an inadmissible credit against the excess service tax paid, but the tribunal held that such adjustment was not permissible as it did not relate to subsequent service tax liabilities. The recovery of the erroneously availed credit was found to be applicable only after the insertion of a recovery provision in the relevant rule. The tribunal also ruled that the invocation of an extended period of limitation by the Department was not justified as they were aware of the issue well within the normal limitation period. As a result, the impugned order was set aside, and the appeal was allowed by the CESTAT.
The case involves the adjustment of short-payment of tax with excess payment of service tax on services exported overseas. The appellant sought to adjust an inadmissible credit against the excess service tax paid, but the tribunal held that such adjustment was not permissible as it did not relate to subsequent service tax liabilities. The recovery of the erroneously availed credit was found to be applicable only after the insertion of a recovery provision in the relevant rule. The tribunal also ruled that the invocation of an extended period of limitation by the Department was not justified as they were aware of the issue well within the normal limitation period. As a result, the impugned order was set aside, and the appeal was allowed by the CESTAT.
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