Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
HC held that transitional credit under CGST Act is not available for capital goods in transit as of the appointed date. While Section 140 of CGST Act allows carrying forward unutilized CENVAT credit for both inputs and capital goods, sub-section (5) specifically distinguishes between them. The CENVAT Credit Rules 2017, which superseded the 2004 Rules, provides no facility for claiming credit of excise duty on capital goods in transit. Following RSPL Limited precedent, the court affirmed that treating inputs and capital goods differently is constitutionally valid under Article 14, as they form distinct classes. The distinction in transitional provisions between inputs and capital goods was found lawful and justified. Application dismissed.
HC held that transitional credit under CGST Act is not available for capital goods in transit as of the appointed date. While Section 140 of CGST Act allows carrying forward unutilized CENVAT credit for both inputs and capital goods, sub-section (5) specifically distinguishes between them. The CENVAT Credit Rules 2017, which superseded the 2004 Rules, provides no facility for claiming credit of excise duty on capital goods in transit. Following RSPL Limited precedent, the court affirmed that treating inputs and capital goods differently is constitutionally valid under Article 14, as they form distinct classes. The distinction in transitional provisions between inputs and capital goods was found lawful and justified. Application dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
