Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
GST Council recommends formation of Group of Ministers to study GST on life and health insurance, and future of compensation cess. Exemption recommended for research and development services by government entities, universities using government or private grants. GST rates reduced from 12% to 5% on cancer drugs Trastuzumab Deruxtecan, Osimertinib and Durvalumab. GST rate on extruded/expanded savoury snacks reduced from 18% to 12%. Reverse Charge Mechanism introduced on metal scrap supply by unregistered to registered persons. GST clarified at 28% on car seats and roof-mounted air conditioning units for railways. Pilot rollout recommended for B2C e-invoicing. Enhancements like RCM ledger, ITC reclaim ledger and Invoice Management System to be introduced. Waiver of interest/penalty for tax demands in FY 2017-18 to 2019-20 u/s 128A recommended. Clarifications issued on various issues like refunds with concessional notifications, place of supply rules.
GST Council recommends formation of Group of Ministers to study GST on life and health insurance, and future of compensation cess. Exemption recommended for research and development services by government entities, universities using government or private grants. GST rates reduced from 12% to 5% on cancer drugs Trastuzumab Deruxtecan, Osimertinib and Durvalumab. GST rate on extruded/expanded savoury snacks reduced from 18% to 12%. Reverse Charge Mechanism introduced on metal scrap supply by unregistered to registered persons. GST clarified at 28% on car seats and roof-mounted air conditioning units for railways. Pilot rollout recommended for B2C e-invoicing. Enhancements like RCM ledger, ITC reclaim ledger and Invoice Management System to be introduced. Waiver of interest/penalty for tax demands in FY 2017-18 to 2019-20 u/s 128A recommended. Clarifications issued on various issues like refunds with concessional notifications, place of supply rules.
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