Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
HC dismisses revision. Differential amount received by petitioner due to foreign exchange fluctuation constitutes "turnover" under KGST Act. Amount represents consideration for sale of goods despite exchange rate benefit. Statutory definition of turnover encompasses such foreign currency amounts when converted to Indian rupees. Permissible deductions already granted, differential amount represents untaxed turnover. Exchange rate fluctuations affecting foreign currency sale price do not alter nature of amount as turnover.
HC dismisses revision. Differential amount received by petitioner due to foreign exchange fluctuation constitutes "turnover" under KGST Act. Amount represents consideration for sale of goods despite exchange rate benefit. Statutory definition of turnover encompasses such foreign currency amounts when converted to Indian rupees. Permissible deductions already granted, differential amount represents untaxed turnover. Exchange rate fluctuations affecting foreign currency sale price do not alter nature of amount as turnover.
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