Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Various aspects related to the waiver of interest or penalty or both u/s 128A of the CGST Act. It clarifies eligibility criteria, application process, payment requirements, processing of applications, issuance of orders, and appeals. Key points include the time period covered, payment of full tax amount (excluding certain amounts), treatment of erroneous refund demands, demands spanning multiple periods, and applicability to IGST and Compensation Cess. It also addresses issues like retrospective ITC availability, adjustment of transitional credit demands, utilization of ITC for payment, and applicability to import IGST under Customs Act. The summary provides comprehensive guidance on availing the waiver benefit u/s 128A.
Various aspects related to the waiver of interest or penalty or both u/s 128A of the CGST Act. It clarifies eligibility criteria, application process, payment requirements, processing of applications, issuance of orders, and appeals. Key points include the time period covered, payment of full tax amount (excluding certain amounts), treatment of erroneous refund demands, demands spanning multiple periods, and applicability to IGST and Compensation Cess. It also addresses issues like retrospective ITC availability, adjustment of transitional credit demands, utilization of ITC for payment, and applicability to import IGST under Customs Act. The summary provides comprehensive guidance on availing the waiver benefit u/s 128A.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
