Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The taxable event for levy of IGST is the inter-state supply of goods and services, including supply in the course of importation. The charging section for collection of IGST on imported goods is section 4 of the IGST Act read with section 3(8) of the Customs Tariff Act. IGST collected on imports is not a duty of customs but credited to the Major Budget head 0008 and apportioned between the Centre and States as per GST Council recommendations. Interest is payable on delayed payment of IGST, whether on inter-state supplies within India or on imports, as section 3 of the Customs Tariff Act makes IGST payable under the IGST Act. The impugned order upholding interest payability on delayed IGST payment for imports was upheld by the Appellate Tribunal.
The taxable event for levy of IGST is the inter-state supply of goods and services, including supply in the course of importation. The charging section for collection of IGST on imported goods is section 4 of the IGST Act read with section 3(8) of the Customs Tariff Act. IGST collected on imports is not a duty of customs but credited to the Major Budget head 0008 and apportioned between the Centre and States as per GST Council recommendations. Interest is payable on delayed payment of IGST, whether on inter-state supplies within India or on imports, as section 3 of the Customs Tariff Act makes IGST payable under the IGST Act. The impugned order upholding interest payability on delayed IGST payment for imports was upheld by the Appellate Tribunal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
