Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
The HC directed the refund of IGST paid under Section 16(3) of IGST Act read with Section 54 of CGST Act and Rule 96 of CGST Rules for zero-rated supply. The court determined that departmental circulars cannot override Rule 96, relying on precedent established in Amit Cotton Industries (Gujarat HC). The court ordered the respondent to refund Rs. 12,72,827 with applicable interest to the petitioner within eight weeks from receipt of the order. The petition was allowed, confirming that administrative circulars cannot supersede statutory rules governing IGST refund procedures for zero-rated supplies.
The HC directed the refund of IGST paid under Section 16(3) of IGST Act read with Section 54 of CGST Act and Rule 96 of CGST Rules for zero-rated supply. The court determined that departmental circulars cannot override Rule 96, relying on precedent established in Amit Cotton Industries (Gujarat HC). The court ordered the respondent to refund Rs. 12,72,827 with applicable interest to the petitioner within eight weeks from receipt of the order. The petition was allowed, confirming that administrative circulars cannot supersede statutory rules governing IGST refund procedures for zero-rated supplies.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
