Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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The HC dismissed a petition seeking to extend the benefit of the proviso to Rule 90(3) of CGST Rules to exclude days between filing refund claims and issuance of deficiency memos for limitation calculation. The court determined that the petitioner's refund claims for zero-rated supplies (exports) made during July-September 2017 were filed within the statutory limitation period under Section 54 of CGST Act. The court held that Circular No.125/44/2019 could not impose a fresh limitation period contrary to statutory provisions, and the 2021 amendment to Rule 90(3) could not be given retrospective effect. The amendment to Explanation 2(e) to Section 54 was deemed inapplicable as the petitioner's claims predated this amendment.
The HC dismissed a petition seeking to extend the benefit of the proviso to Rule 90(3) of CGST Rules to exclude days between filing refund claims and issuance of deficiency memos for limitation calculation. The court determined that the petitioner's refund claims for zero-rated supplies (exports) made during July-September 2017 were filed within the statutory limitation period under Section 54 of CGST Act. The court held that Circular No.125/44/2019 could not impose a fresh limitation period contrary to statutory provisions, and the 2021 amendment to Rule 90(3) could not be given retrospective effect. The amendment to Explanation 2(e) to Section 54 was deemed inapplicable as the petitioner's claims predated this amendment.
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