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...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
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The High Court dismissed the petition challenging the notice in Form ASMT-10 issued by the state authorities for blocking the electronic credit/cash ledger. The court held that the state authorities acted within their powers by blocking the input tax credit (ITC) u/r 86A of the GST Rules, 2017, as they had reasons to believe that the ITC of Rs. 13.10 crores was fraudulently availed. The court clarified that u/r 86A, the authorities can block the debit of an amount equivalent to the fraudulently availed ITC from the electronic credit ledger, irrespective of whether the ITC was available or already utilized. The issuance of Form DRC-01A by the central authorities for Rs. 71,798/- and remittance of the same did not determine the entire issue raised in Form ASMT-10 by the state authorities.
The High Court dismissed the petition challenging the notice in Form ASMT-10 issued by the state authorities for blocking the electronic credit/cash ledger. The court held that the state authorities acted within their powers by blocking the input tax credit (ITC) u/r 86A of the GST Rules, 2017, as they had reasons to believe that the ITC of Rs. 13.10 crores was fraudulently availed. The court clarified that u/r 86A, the authorities can block the debit of an amount equivalent to the fraudulently availed ITC from the electronic credit ledger, irrespective of whether the ITC was available or already utilized. The issuance of Form DRC-01A by the central authorities for Rs. 71,798/- and remittance of the same did not determine the entire issue raised in Form ASMT-10 by the state authorities.
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