Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Challenge to show cause notice u/s 74 of Central/Gujarat Goods and Services Tax Act, 2017 regarding classification of product manufactured by petitioner under HSN 19059040 instead of HSN 19059030 and consequent levy of GST. Court held that in view of minutes of GST Council meeting and circular dated 1st August, 2023, issue was to be regularized on 'as is where is' basis up to 22.07.2023, meaning petitioners' claim of exemption under HSN 19059040 and payment of nil GST to continue as filed. Respondents misinterpreted 'as is' basis by issuing impugned notices levying 18% GST under HSN 19059030, ignoring binding advance ruling. When petitioners claimed exemption under HSN 19059040 and paid nil GST, same was required to be regularized 'as is' as per GST Council and Board's notification coupled with binding advance ruling. Impugned show cause notices quashed, respondents directed to regularize past returns filed by petitioners on 'as is' basis accepting nil rate of GST up to 22.07.2023. Petition allowed.
Challenge to show cause notice u/s 74 of Central/Gujarat Goods and Services Tax Act, 2017 regarding classification of product manufactured by petitioner under HSN 19059040 instead of HSN 19059030 and consequent levy of GST. Court held that in view of minutes of GST Council meeting and circular dated 1st August, 2023, issue was to be regularized on 'as is where is' basis up to 22.07.2023, meaning petitioners' claim of exemption under HSN 19059040 and payment of nil GST to continue as filed. Respondents misinterpreted 'as is' basis by issuing impugned notices levying 18% GST under HSN 19059030, ignoring binding advance ruling. When petitioners claimed exemption under HSN 19059040 and paid nil GST, same was required to be regularized 'as is' as per GST Council and Board's notification coupled with binding advance ruling. Impugned show cause notices quashed, respondents directed to regularize past returns filed by petitioners on 'as is' basis accepting nil rate of GST up to 22.07.2023. Petition allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
