Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
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Assessees subjected to search u/s 132 prior to March 31, 2021, retained the right to file applications for settlement before the Interim Settlement Board, provided such applications were filed on or before September 30, 2021. The Explanation Clauses accompanying the deleted provisos in Section 245A(b) cannot restrict the definition of 'case' after the deletion of provisos. Accepting the Revenue's interpretation would defeat the legislative intent behind deleting the provisos. The right to approach the Settlement Commission vested in eligible assessees until the Finance Act, 2021 amendments remained enforceable. The High Court concurred with the Bombay High Court's view in Senapati Santaji Ghorpade Sugar Factory Ltd. and Vishwakarma Developers cases. Consequently, orders by the Interim Settlement Board finding applications for settlement filed by petitioners as not maintainable stand set aside if the search u/s 132 was prior to March 31, 2021, and applications were filed by September 30, 2021.
Assessees subjected to search u/s 132 prior to March 31, 2021, retained the right to file applications for settlement before the Interim Settlement Board, provided such applications were filed on or before September 30, 2021. The Explanation Clauses accompanying the deleted provisos in Section 245A(b) cannot restrict the definition of 'case' after the deletion of provisos. Accepting the Revenue's interpretation would defeat the legislative intent behind deleting the provisos. The right to approach the Settlement Commission vested in eligible assessees until the Finance Act, 2021 amendments remained enforceable. The High Court concurred with the Bombay High Court's view in Senapati Santaji Ghorpade Sugar Factory Ltd. and Vishwakarma Developers cases. Consequently, orders by the Interim Settlement Board finding applications for settlement filed by petitioners as not maintainable stand set aside if the search u/s 132 was prior to March 31, 2021, and applications were filed by September 30, 2021.
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