Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
The Respondent opted for GST at 5% without ITC as per Notification No. 03/2019-Central Tax (Rate) and reversed all available ITC pertaining to the financial years 2017-2018 and 2018-2019 from April 2019 onwards. The Respondent also reversed ITC availed due to delay in payments to suppliers beyond 180 days and excess ITC availed wrongly, resulting in negative credit during the post-GST period. The Respondent did not retain any ITC related to the 'Ireo Waterfront' project and reversed all ineligible ITC. Post-GST, no additional ITC benefit accrued to the Respondent for the 'Ireo Waterfront' project. Consequently, the provisions of Section 171(1) of the CGST Act, 2017 are not attracted, and the proceedings were dropped.
The Respondent opted for GST at 5% without ITC as per Notification No. 03/2019-Central Tax (Rate) and reversed all available ITC pertaining to the financial years 2017-2018 and 2018-2019 from April 2019 onwards. The Respondent also reversed ITC availed due to delay in payments to suppliers beyond 180 days and excess ITC availed wrongly, resulting in negative credit during the post-GST period. The Respondent did not retain any ITC related to the 'Ireo Waterfront' project and reversed all ineligible ITC. Post-GST, no additional ITC benefit accrued to the Respondent for the 'Ireo Waterfront' project. Consequently, the provisions of Section 171(1) of the CGST Act, 2017 are not attracted, and the proceedings were dropped.
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