Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
HC allowed refund of Input Tax Credit for compensation cess on zero-rated supplies, overturning the Additional Commissioner's rejection. The court distinguished between Composition Levy under CGST Act and Compensation Cess under Compensation Cess Act, clarifying that circulars dated July 26, 2017, and November 18, 2019, explicitly permit refund of unutilized Compensation Cess credit for zero-rated supplies under LUT. The court emphasized that while Input Tax Credit of Compensation Cess can only be utilized for payment of cess on outward supplies, the refund claim is valid and supported by administrative circulars. The Additional Commissioner's interpretation restricting refund based on Section 2(62) and 2(63) of CGST Act was deemed unsustainable.
HC allowed refund of Input Tax Credit for compensation cess on zero-rated supplies, overturning the Additional Commissioner's rejection. The court distinguished between Composition Levy under CGST Act and Compensation Cess under Compensation Cess Act, clarifying that circulars dated July 26, 2017, and November 18, 2019, explicitly permit refund of unutilized Compensation Cess credit for zero-rated supplies under LUT. The court emphasized that while Input Tax Credit of Compensation Cess can only be utilized for payment of cess on outward supplies, the refund claim is valid and supported by administrative circulars. The Additional Commissioner's interpretation restricting refund based on Section 2(62) and 2(63) of CGST Act was deemed unsustainable.
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