Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
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HC determined that Notification No. 54/2018-Central Tax amending Rule 96(10) of CGST Rules operates prospectively from October 9, 2018, not retrospectively from October 23, 2017. The court quashed summons, notices, and recovery proceedings initiated based on retrospective application of the notification. Any quantification of alleged erroneous refunds for periods before October 9, 2018, was held invalid and without jurisdiction. The ruling aligned with previous rectification order in Cosmo Films Limited case which corrected the earlier misinterpretation regarding notification's effective date. The decision establishes clear temporal boundaries for enforcement of amended Rule 96(10).
HC determined that Notification No. 54/2018-Central Tax amending Rule 96(10) of CGST Rules operates prospectively from October 9, 2018, not retrospectively from October 23, 2017. The court quashed summons, notices, and recovery proceedings initiated based on retrospective application of the notification. Any quantification of alleged erroneous refunds for periods before October 9, 2018, was held invalid and without jurisdiction. The ruling aligned with previous rectification order in Cosmo Films Limited case which corrected the earlier misinterpretation regarding notification's effective date. The decision establishes clear temporal boundaries for enforcement of amended Rule 96(10).
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