Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
HC ruled in favor of the petitioner regarding input tax credit (ITC) dispute under GST law. The court established that electronic credit ledger functions as a pool of funds with separate compartments for IGST, CGST, and SGST. Although petitioner utilized CGST and SGST credits instead of IGST, this did not constitute wrongful availment under Section 16(2)(c) of GST Act. Court set aside proceedings initiated under Section 73 of CGST Act, directing reconsideration of original orders. The ruling affirms that mere utilization of different tax head credits does not amount to improper ITC claim when overall credit pool is legitimate. Matter remanded for fresh consideration by tax authorities.
HC ruled in favor of the petitioner regarding input tax credit (ITC) dispute under GST law. The court established that electronic credit ledger functions as a pool of funds with separate compartments for IGST, CGST, and SGST. Although petitioner utilized CGST and SGST credits instead of IGST, this did not constitute wrongful availment under Section 16(2)(c) of GST Act. Court set aside proceedings initiated under Section 73 of CGST Act, directing reconsideration of original orders. The ruling affirms that mere utilization of different tax head credits does not amount to improper ITC claim when overall credit pool is legitimate. Matter remanded for fresh consideration by tax authorities.
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