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...
HC affirmed that blocking under Rule 86A of Orissa GST Rules serves as revenue security by preventing utilization of future ITC through negative balance insertion in electronic credit ledger. The court emphasized the necessity for tax authorities to initiate recovery proceedings within the one-year blocking period, as automatic unblocking would otherwise allow dealers to access and debit ITC from their electronic ledger. The temporary restriction mechanism ensures tax authorities can secure potential recoveries while maintaining procedural safeguards. The ruling clarifies that such preventive measures are valid when aligned with proper recovery actions within the prescribed timeframe.
HC affirmed that blocking under Rule 86A of Orissa GST Rules serves as revenue security by preventing utilization of future ITC through negative balance insertion in electronic credit ledger. The court emphasized the necessity for tax authorities to initiate recovery proceedings within the one-year blocking period, as automatic unblocking would otherwise allow dealers to access and debit ITC from their electronic ledger. The temporary restriction mechanism ensures tax authorities can secure potential recoveries while maintaining procedural safeguards. The ruling clarifies that such preventive measures are valid when aligned with proper recovery actions within the prescribed timeframe.
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