BCD exemption for specified display assembly inputs extended for automotive, medical and industrial applications, with defined exclusions and sunset d...
Prospective valuation amendment limits reassessment: unamended fair market value reference could not justify reopening based on a registered valuer's ...
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The AAR ruled that goods supplied by the applicant, despite being a victim of fraud without receiving consideration, still constituted a "supply" under GST law. The authority determined that while fraud may vitiate a contract, it does not negate the statutory definition of "supply" under section 7 of the CGST Act. The facts established that goods were physically removed and received at the destination, as confirmed by the FIR. The AAR concluded that the transaction qualified as supply of goods under section 20 of the IGST Act read with sections 12 and 7 of the CGST Act, regardless of the fraudulent nature of the order.
The AAR ruled that goods supplied by the applicant, despite being a victim of fraud without receiving consideration, still constituted a "supply" under GST law. The authority determined that while fraud may vitiate a contract, it does not negate the statutory definition of "supply" under section 7 of the CGST Act. The facts established that goods were physically removed and received at the destination, as confirmed by the FIR. The AAR concluded that the transaction qualified as supply of goods under section 20 of the IGST Act read with sections 12 and 7 of the CGST Act, regardless of the fraudulent nature of the order.
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