Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
The petitioner challenged the refund sanctioning orders u/s 54 of the CGST Act on the ground that the unutilized Input Tax Credit (ITC), including transitional credit from CENVAT, was ignored. The High Court held that the provisions of Section 54 would apply, and the authorities could not deprive the petitioner of the CENVAT credit available on 01.07.2017 merely because it was reflected in the Electronic Credit Ledger in August 2017 after processing Form GST TRAN-1. Considering the decision in M/s. Torrent Pharmaceuticals case, the High Court quashed the impugned orders and the show-cause notice, allowing the refund of unutilized ITC after considering the CENVAT credit.
The petitioner challenged the refund sanctioning orders u/s 54 of the CGST Act on the ground that the unutilized Input Tax Credit (ITC), including transitional credit from CENVAT, was ignored. The High Court held that the provisions of Section 54 would apply, and the authorities could not deprive the petitioner of the CENVAT credit available on 01.07.2017 merely because it was reflected in the Electronic Credit Ledger in August 2017 after processing Form GST TRAN-1. Considering the decision in M/s. Torrent Pharmaceuticals case, the High Court quashed the impugned orders and the show-cause notice, allowing the refund of unutilized ITC after considering the CENVAT credit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
