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Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
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Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
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CBIC clarifies procedure for departmental appeals regarding interest/penalty under Section 128A of CGST Act. Where taxpayers have fully paid tax demands under Section 73 for FY 2017-20, they remain eligible for interest/penalty waiver even if department has filed or plans to file appeal concerning incorrect interest calculations or penalty impositions. Proper officers should withdraw such departmental appeals or accept orders under review if taxpayers meet other Section 128A conditions. This interpretation aims to reduce litigation and prevent denial of benefits on technical grounds, extending relief to compliant taxpayers facing disputes solely over interest/penalty components.
CBIC clarifies procedure for departmental appeals regarding interest/penalty under Section 128A of CGST Act. Where taxpayers have fully paid tax demands under Section 73 for FY 2017-20, they remain eligible for interest/penalty waiver even if department has filed or plans to file appeal concerning incorrect interest calculations or penalty impositions. Proper officers should withdraw such departmental appeals or accept orders under review if taxpayers meet other Section 128A conditions. This interpretation aims to reduce litigation and prevent denial of benefits on technical grounds, extending relief to compliant taxpayers facing disputes solely over interest/penalty components.
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