Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
The Appellate Authority for Advance Ruling (AAR) ruled that R.V. Hydraulic Services is not eligible to claim Input Tax Credit (ITC) on the Integrated Goods and Services Tax (IGST) paid for the imported machinery (Davi Full Hydraulic Plate Roll). The Bill of Entry was in the name of M/s Promau SRL, C/o IMTEX, and not in the name of the applicant. As per Section 16(2)(a) read with Rule 36(1)(d) of the CGST Act, 2017 and Section 20 of the IGST Act, a valid Bill of Entry in the recipient's name is a prerequisite to claim ITC on imported goods. Since the essential documentary requirement was not fulfilled, the applicant's claim for ITC was denied.
The Appellate Authority for Advance Ruling (AAR) ruled that R.V. Hydraulic Services is not eligible to claim Input Tax Credit (ITC) on the Integrated Goods and Services Tax (IGST) paid for the imported machinery (Davi Full Hydraulic Plate Roll). The Bill of Entry was in the name of M/s Promau SRL, C/o IMTEX, and not in the name of the applicant. As per Section 16(2)(a) read with Rule 36(1)(d) of the CGST Act, 2017 and Section 20 of the IGST Act, a valid Bill of Entry in the recipient's name is a prerequisite to claim ITC on imported goods. Since the essential documentary requirement was not fulfilled, the applicant's claim for ITC was denied.
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