Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
HC determined that under Rule 28's second Proviso, the value declared in invoices for services from seconded employees represents their open market value. When foreign affiliates provide services without raising invoices, per Circular No. 210/4/2024-GST, such services are deemed to have 'nil' value, which becomes the market value under CGST Rules. This interpretation applies specifically to GST levy on expenses for seconded employees from foreign entities. The court emphasized that the declared invoice value, or absence thereof resulting in nil value, establishes the definitive market value for GST purposes. Petition was allowed, confirming this interpretation of Rule 28 and its application to seconded employee arrangements.
HC determined that under Rule 28's second Proviso, the value declared in invoices for services from seconded employees represents their open market value. When foreign affiliates provide services without raising invoices, per Circular No. 210/4/2024-GST, such services are deemed to have 'nil' value, which becomes the market value under CGST Rules. This interpretation applies specifically to GST levy on expenses for seconded employees from foreign entities. The court emphasized that the declared invoice value, or absence thereof resulting in nil value, establishes the definitive market value for GST purposes. Petition was allowed, confirming this interpretation of Rule 28 and its application to seconded employee arrangements.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4798
Join Channel
TaxTMI 
