Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
CESTAT adjudicated a dispute regarding IGST interest calculation on imported goods. The tribunal distinguished between Additional Duty of Customs and IGST, clarifying their distinct constitutional and statutory foundations. The key legal finding was that interest for delayed IGST payment should be calculated under Section 50 of CGST Act, not Section 28AB of Customs Act. The tribunal held that IGST on imported goods must be treated identically to inter-state supply IGST. Consequently, the matter was remanded to the Commissioner for recalculating interest at the applicable CGST Act rates, effectively allowing the appellant's appeal and directing a fresh interest computation consistent with statutory provisions.
CESTAT adjudicated a dispute regarding IGST interest calculation on imported goods. The tribunal distinguished between Additional Duty of Customs and IGST, clarifying their distinct constitutional and statutory foundations. The key legal finding was that interest for delayed IGST payment should be calculated under Section 50 of CGST Act, not Section 28AB of Customs Act. The tribunal held that IGST on imported goods must be treated identically to inter-state supply IGST. Consequently, the matter was remanded to the Commissioner for recalculating interest at the applicable CGST Act rates, effectively allowing the appellant's appeal and directing a fresh interest computation consistent with statutory provisions.
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