Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The case pertains to recovery of arrears of tax for Assessment Years 2017-2018 and 2018-2019 due to non-filing of returns. The petitioner had previously suffered Assessment Orders u/s 62 of the Tamil Nadu Goods and Services Tax Act, 2017, erroneously mentioned as Section 63. The Finance Act, 2024 introduced amendments incorporating Sections 16(5) and 16(6) in the Central Goods and Services Tax (CGST) Act, with similar amendments expected in the Tamil Nadu Goods and Services Tax Act, 2017. As per the Supreme Court's decision in FORMICA INDIA DIVISION VERSUS COLLECTOR OF CENTRAL EXCISE, once tax is demanded, the benefit of Input Tax Credit must be granted. Consequently, the Impugned Recovery Notices were set aside, and the case was remitted for a fresh order, with the petition allowed by way of remand.
The case pertains to recovery of arrears of tax for Assessment Years 2017-2018 and 2018-2019 due to non-filing of returns. The petitioner had previously suffered Assessment Orders u/s 62 of the Tamil Nadu Goods and Services Tax Act, 2017, erroneously mentioned as Section 63. The Finance Act, 2024 introduced amendments incorporating Sections 16(5) and 16(6) in the Central Goods and Services Tax (CGST) Act, with similar amendments expected in the Tamil Nadu Goods and Services Tax Act, 2017. As per the Supreme Court's decision in FORMICA INDIA DIVISION VERSUS COLLECTOR OF CENTRAL EXCISE, once tax is demanded, the benefit of Input Tax Credit must be granted. Consequently, the Impugned Recovery Notices were set aside, and the case was remitted for a fresh order, with the petition allowed by way of remand.
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