Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
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...
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Denial of refund of Krishi Kalyan Cess (KKC) not transited as input tax credit to the GST Tran-I Register. Under the CENVAT Credit Rules 2004, KKC was allowed as input credit but could only be utilized for payment of taxes on output services or clearance of goods as KKC. After the introduction of the CGST Act on 01.07.2017, KKC was discontinued. Section 142(6)(a) of the CGST Act allows for cash refund of CENVAT Credit lying in balance, notwithstanding contrary provisions in existing laws, except for Section 11B sub-Section 2. The Appellate Tribunal held that the appellant is entitled to a cash refund of the accumulated KKC input credits of Rs. 28,30,992/- with applicable interest, setting aside the order of the Commissioner of CGST & Central Excise (Appeals-II), Mumbai. The appeal was allowed.
Denial of refund of Krishi Kalyan Cess (KKC) not transited as input tax credit to the GST Tran-I Register. Under the CENVAT Credit Rules 2004, KKC was allowed as input credit but could only be utilized for payment of taxes on output services or clearance of goods as KKC. After the introduction of the CGST Act on 01.07.2017, KKC was discontinued. Section 142(6)(a) of the CGST Act allows for cash refund of CENVAT Credit lying in balance, notwithstanding contrary provisions in existing laws, except for Section 11B sub-Section 2. The Appellate Tribunal held that the appellant is entitled to a cash refund of the accumulated KKC input credits of Rs. 28,30,992/- with applicable interest, setting aside the order of the Commissioner of CGST & Central Excise (Appeals-II), Mumbai. The appeal was allowed.
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