Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
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).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
