Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
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AAR ruled that businesses can utilize Rule 32(5) valuation (margin scheme) for second-hand goods while maintaining regular valuation for existing operations. Taxpayers may selectively apply this scheme to purchases from unregistered dealers while using standard GST procedures for registered dealer purchases. Under the margin scheme, the taxable value is the difference between selling price and purchase price, excluding repair/improvement costs. When using this scheme, input tax credit cannot be claimed on either purchase price or repair costs. Purchases of second-hand goods from unregistered dealers are exempt from reverse charge mechanism for intra-state supplies under Notification No. 10/2017-CT(R).
AAR ruled that businesses can utilize Rule 32(5) valuation (margin scheme) for second-hand goods while maintaining regular valuation for existing operations. Taxpayers may selectively apply this scheme to purchases from unregistered dealers while using standard GST procedures for registered dealer purchases. Under the margin scheme, the taxable value is the difference between selling price and purchase price, excluding repair/improvement costs. When using this scheme, input tax credit cannot be claimed on either purchase price or repair costs. Purchases of second-hand goods from unregistered dealers are exempt from reverse charge mechanism for intra-state supplies under Notification No. 10/2017-CT(R).
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