Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business pur...
Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
HC held that GST-ASMT-10 notices issued under Section 61 of Jharkhand GST Act, 2017 comparing petitioners' stone-boulder sales price with market price are ultra vires and without jurisdiction. The court determined that merely selling goods at a lower than market price does not automatically constitute a taxable discrepancy. The notices were deemed improper as they exceeded statutory powers, and the court quashed the notices, effectively ruling in favor of the petitioners by invalidating the tax department's assessment approach.
HC held that GST-ASMT-10 notices issued under Section 61 of Jharkhand GST Act, 2017 comparing petitioners' stone-boulder sales price with market price are ultra vires and without jurisdiction. The court determined that merely selling goods at a lower than market price does not automatically constitute a taxable discrepancy. The notices were deemed improper as they exceeded statutory powers, and the court quashed the notices, effectively ruling in favor of the petitioners by invalidating the tax department's assessment approach.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
