Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
This legal case deals with the applicability of Goods and Services Tax (GST) on the export of pre-packaged and labelled frozen shrimps. The key points are: According to the Legal Metrology Act, 2009 and rules, if the inner packaging is printed with a pre-determined quantity, it is considered a 'pre-packaged and labelled' commodity for retail sale, regardless of whether the outer packaging is printed or not. Consequently, the inner packaging of shrimps ranging from 250 grams to 2 kilograms falls under the 'pre-packaged and labelled' category and is liable for GST. The supply of shrimps in pouches or boxes up to 25kg, which are duly pre-packaged and labelled as per the Legal Metrology Act, is a taxable event and not an exempted or nil-rated supply. Where the quantity involved is 25kg or less for specified commodities like shrimps (HSN 0306), which are pre-packed, they are covered under the Legal Metrology Act, 2009, and rules. Therefore, GST at 5% is applicable on the supply of 'pre-packaged and labelled' shrimps up to 25kg, irrespective of whether it is for domestic supply or export, as long as they are specified pre-pack.
This legal case deals with the applicability of Goods and Services Tax (GST) on the export of pre-packaged and labelled frozen shrimps. The key points are: According to the Legal Metrology Act, 2009 and rules, if the inner packaging is printed with a pre-determined quantity, it is considered a 'pre-packaged and labelled' commodity for retail sale, regardless of whether the outer packaging is printed or not. Consequently, the inner packaging of shrimps ranging from 250 grams to 2 kilograms falls under the 'pre-packaged and labelled' category and is liable for GST. The supply of shrimps in pouches or boxes up to 25kg, which are duly pre-packaged and labelled as per the Legal Metrology Act, is a taxable event and not an exempted or nil-rated supply. Where the quantity involved is 25kg or less for specified commodities like shrimps (HSN 0306), which are pre-packed, they are covered under the Legal Metrology Act, 2009, and rules. Therefore, GST at 5% is applicable on the supply of 'pre-packaged and labelled' shrimps up to 25kg, irrespective of whether it is for domestic supply or export, as long as they are specified pre-pack.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
