Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business pur...
Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
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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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