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...
Legal clarification issued by tax authorities regarding late fee applicability for delayed submission of FORM GSTR-9C. The circular establishes that late fees under section 47 of CGST Act are leviable for incomplete annual return filing, specifically when FORM GSTR-9C is mandatorily required but not submitted alongside FORM GSTR-9. Late fees will be calculated from the original due date until complete return submission. For financial years up to 2022-23, late fees for delayed FORM GSTR-9C submission are waived if filed by 31st March 2025, with no additional penalties beyond original late fee calculation period.
Legal clarification issued by tax authorities regarding late fee applicability for delayed submission of FORM GSTR-9C. The circular establishes that late fees under section 47 of CGST Act are leviable for incomplete annual return filing, specifically when FORM GSTR-9C is mandatorily required but not submitted alongside FORM GSTR-9. Late fees will be calculated from the original due date until complete return submission. For financial years up to 2022-23, late fees for delayed FORM GSTR-9C submission are waived if filed by 31st March 2025, with no additional penalties beyond original late fee calculation period.
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