Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
HC ruled that blocking of Input Tax Credit (ITC) ledger beyond one year under Rule 86A of CGST Rules, 2017, must be lifted. The statutory interpretation of Rule 86A(3) mandates automatic removal of credit restrictions after the specified time period. The court's decision explicitly notes that lifting the ITC block is independent of any concurrent administrative or legal proceedings against the taxpayer. The restriction is therefore automatically terminated after the one-year period, providing relief to the petitioner while preserving the authority's right to pursue separate investigative actions.
HC ruled that blocking of Input Tax Credit (ITC) ledger beyond one year under Rule 86A of CGST Rules, 2017, must be lifted. The statutory interpretation of Rule 86A(3) mandates automatic removal of credit restrictions after the specified time period. The court's decision explicitly notes that lifting the ITC block is independent of any concurrent administrative or legal proceedings against the taxpayer. The restriction is therefore automatically terminated after the one-year period, providing relief to the petitioner while preserving the authority's right to pursue separate investigative actions.
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