Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
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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