Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The CBIC has clarified the following key points regarding taxability and valuation of supply of services of providing corporate guarantee between related persons: Sub-rule (2) of Rule 28 of CGST Rules prescribing 1% valuation applies to corporate guarantees issued/renewed on or after 26.10.2023. For prior periods, valuation to be done as per then existing Rule 28. Value is based on amount guaranteed, not loan disbursed. ITC can be availed irrespective of loan disbursal. For co-guarantors, GST payable proportionately at 1% of respective amounts guaranteed. For intra-group guarantees, GST payable under forward charge by issuer. For guarantees by overseas entities, reverse charge applies. Valuation at 1% per annum or actual consideration, whichever higher. Second proviso to Rule 28(1) benefit available. The 1% valuation not applicable for export of this service.
The CBIC has clarified the following key points regarding taxability and valuation of supply of services of providing corporate guarantee between related persons: Sub-rule (2) of Rule 28 of CGST Rules prescribing 1% valuation applies to corporate guarantees issued/renewed on or after 26.10.2023. For prior periods, valuation to be done as per then existing Rule 28. Value is based on amount guaranteed, not loan disbursed. ITC can be availed irrespective of loan disbursal. For co-guarantors, GST payable proportionately at 1% of respective amounts guaranteed. For intra-group guarantees, GST payable under forward charge by issuer. For guarantees by overseas entities, reverse charge applies. Valuation at 1% per annum or actual consideration, whichever higher. Second proviso to Rule 28(1) benefit available. The 1% valuation not applicable for export of this service.
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