Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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The High Court dismissed the writ petition filed by the petitioner seeking permission to rectify/amend the GST number of the purchaser in GSTR-1 return after the expiration of the limitation period u/s 37(3) of the Central Goods and Services Tax Act, 2017. The Court held that if a person submits an erroneous GSTR-1 and does not correct it within the timeline, the subsequent GSTR-2A and GSTR-3B would also reflect the erroneous information, leading to cascading effects. The time limitation u/ss 37(1) and 37(3) is directly linked to Section 16(4), which allows input tax credit to be availed till the due date of furnishing the return u/s 39 for the month of September following the end of the financial year or furnishing of the annual return, whichever is earlier. The petitioner could not rectify the error beyond the statutory time limit prescribed under the GST Act.
The High Court dismissed the writ petition filed by the petitioner seeking permission to rectify/amend the GST number of the purchaser in GSTR-1 return after the expiration of the limitation period u/s 37(3) of the Central Goods and Services Tax Act, 2017. The Court held that if a person submits an erroneous GSTR-1 and does not correct it within the timeline, the subsequent GSTR-2A and GSTR-3B would also reflect the erroneous information, leading to cascading effects. The time limitation u/ss 37(1) and 37(3) is directly linked to Section 16(4), which allows input tax credit to be availed till the due date of furnishing the return u/s 39 for the month of September following the end of the financial year or furnishing of the annual return, whichever is earlier. The petitioner could not rectify the error beyond the statutory time limit prescribed under the GST Act.
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