Proportionality in company penalty quantification requires aggravating and mitigating factors; mechanical multiplication of director liability is impe...
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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