Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Petitioner sought regular bail in case involving alleged wrongful Input Tax Credit (ITC) availed using fictitious invoices from non-existent/suspicious firms. As per Section 132(1)(b) and (c) of HGST/CGST Act, issuing invoice without supply or availing ITC using such invoice, where tax evaded or ITC wrongly availed exceeds Rs. 500 lakhs, is punishable with up to 5 years imprisonment and fine. Show cause notice u/s 74(1) issued to petitioner is yet to be adjudicated upon to determine exact tax liability. Determination of tax liability is subject to challenge before tribunals/courts and does not fall within criminal court's realm. Another firm also issued notice jointly with petitioner, whose liability may reduce petitioner's liability. Considering maximum 5 years punishment u/s 132 and pending adjudication of tax liability, petitioner directed to be released on regular bail on executing personal bonds with two solvent sureties of Rs. 50 lakhs each, surrendering passport and not leaving country without court's permission during trial.
Petitioner sought regular bail in case involving alleged wrongful Input Tax Credit (ITC) availed using fictitious invoices from non-existent/suspicious firms. As per Section 132(1)(b) and (c) of HGST/CGST Act, issuing invoice without supply or availing ITC using such invoice, where tax evaded or ITC wrongly availed exceeds Rs. 500 lakhs, is punishable with up to 5 years imprisonment and fine. Show cause notice u/s 74(1) issued to petitioner is yet to be adjudicated upon to determine exact tax liability. Determination of tax liability is subject to challenge before tribunals/courts and does not fall within criminal court's realm. Another firm also issued notice jointly with petitioner, whose liability may reduce petitioner's liability. Considering maximum 5 years punishment u/s 132 and pending adjudication of tax liability, petitioner directed to be released on regular bail on executing personal bonds with two solvent sureties of Rs. 50 lakhs each, surrendering passport and not leaving country without court's permission during trial.
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