Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Assessee's claims allowed: 1) Sales promotion expenses booked on gross basis and settled on actual utilization basis as per matching principle and regularly followed accounting method. 2) Insurance expenditure paid to National Insurance Company for enhancing sum insured and part of premium policy already paid. 3) Interest on delayed payment treated as allowable financial charge, being in nature of revenue expenditure and not connected to acquisition of capital asset.
Assessee's claims allowed: 1) Sales promotion expenses booked on gross basis and settled on actual utilization basis as per matching principle and regularly followed accounting method. 2) Insurance expenditure paid to National Insurance Company for enhancing sum insured and part of premium policy already paid. 3) Interest on delayed payment treated as allowable financial charge, being in nature of revenue expenditure and not connected to acquisition of capital asset.
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