Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The High Court directed the respondents to refund the differential GST amount, being the difference between GST and VAT, paid by the petitioner for each works contract/composite supply executed before July 1, 2017. The Court held that payments received by the petitioners pre-GST for works executed before July 1, 2017, are assessable under the KVAT tax regime, either under the Composition Tax or VAT scheme as applicable. The respondents were ordered to reimburse the GST amount within six weeks from the date of receipt of the order. The petition was allowed.
The High Court directed the respondents to refund the differential GST amount, being the difference between GST and VAT, paid by the petitioner for each works contract/composite supply executed before July 1, 2017. The Court held that payments received by the petitioners pre-GST for works executed before July 1, 2017, are assessable under the KVAT tax regime, either under the Composition Tax or VAT scheme as applicable. The respondents were ordered to reimburse the GST amount within six weeks from the date of receipt of the order. The petition was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
