SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Duty Free Shops at international airports are entitled to claim Input Tax Credit and refund of GST paid on services provided by airport operators, as the sale of goods at these shops is a zero-rated supply. The levy of GST on such services is a revenue-neutral exercise. Petitioners directed to reimburse Rs. 6,11,084 to airport operators within four weeks, along with 8% interest from the date of deposit, and file necessary applications for claiming ITC and refund of the reimbursed amount and other refundable amounts, which shall be considered by the authorities within eight weeks. Petition disposed of.
Duty Free Shops at international airports are entitled to claim Input Tax Credit and refund of GST paid on services provided by airport operators, as the sale of goods at these shops is a zero-rated supply. The levy of GST on such services is a revenue-neutral exercise. Petitioners directed to reimburse Rs. 6,11,084 to airport operators within four weeks, along with 8% interest from the date of deposit, and file necessary applications for claiming ITC and refund of the reimbursed amount and other refundable amounts, which shall be considered by the authorities within eight weeks. Petition disposed of.
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TaxTMI 
TaxTMI 
