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 summary highlights the reversal of Input Tax Credit (ITC) due to the non-electronic filing of Form GST ITC-02 by the transferor company. The key points are: Section 18(3) of the CGST Act allows transfer of unutilized ITC in case of business transfer, subject to prescribed rules. The show cause notice alleged contravention of Section 18(3) and Rule 41(1) for availing ITC without electronic filing of Form GST ITC-02. However, the GST portal had functionality issues during the relevant period, preventing electronic filing. Courts in similar cases involving the petitioner held that technical glitches on the department's part cannot defeat statutory rights. The impugned show cause notice was set aside, and the department was directed to consider the manually filed forms expeditiously.
The summary highlights the reversal of Input Tax Credit (ITC) due to the non-electronic filing of Form GST ITC-02 by the transferor company. The key points are: Section 18(3) of the CGST Act allows transfer of unutilized ITC in case of business transfer, subject to prescribed rules. The show cause notice alleged contravention of Section 18(3) and Rule 41(1) for availing ITC without electronic filing of Form GST ITC-02. However, the GST portal had functionality issues during the relevant period, preventing electronic filing. Courts in similar cases involving the petitioner held that technical glitches on the department's part cannot defeat statutory rights. The impugned show cause notice was set aside, and the department was directed to consider the manually filed forms expeditiously.
Note: It is a system-generated summary and is for quick reference only.
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