Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
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This case pertains to the liability of an appellant to pay Goods and Services Tax (GST) on a reverse charge basis for two specific services: supply of services by the Managing Director through personal guarantees on loans obtained by the company, and supply of services by extending loans from the petitioner-company to its subsidiary. The High Court held that Circular No. 204/16/2023-GST and Circular No. 218/12/2024-GST issued by the Central Board are binding on the authorities. The respondent department's counsel did not dispute the applicability of these circulars to the issues raised. Consequently, the High Court allowed the writ petition and quashed the impugned show cause notice.
This case pertains to the liability of an appellant to pay Goods and Services Tax (GST) on a reverse charge basis for two specific services: supply of services by the Managing Director through personal guarantees on loans obtained by the company, and supply of services by extending loans from the petitioner-company to its subsidiary. The High Court held that Circular No. 204/16/2023-GST and Circular No. 218/12/2024-GST issued by the Central Board are binding on the authorities. The respondent department's counsel did not dispute the applicability of these circulars to the issues raised. Consequently, the High Court allowed the writ petition and quashed the impugned show cause notice.
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