Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
HC held that supplies to merchant exporters qualify as zero-rated export under IGST Act. While petitioners are technically liable to pay 160% Compensation Cess in absence of specific exemption notification, the court recognized this creates unnecessary working capital blockage. The levy is essentially revenue neutral since merchant exporters can claim full refund under sections 16 and 54(3) of GST Act. The matter was remanded to GST Council to consider granting exemption from Compensation Cess for export supplies, aligning with existing GST/IGST exemptions. Petition allowed with directions to review the Compensation Cess levy mechanism for export-oriented supplies.
HC held that supplies to merchant exporters qualify as zero-rated export under IGST Act. While petitioners are technically liable to pay 160% Compensation Cess in absence of specific exemption notification, the court recognized this creates unnecessary working capital blockage. The levy is essentially revenue neutral since merchant exporters can claim full refund under sections 16 and 54(3) of GST Act. The matter was remanded to GST Council to consider granting exemption from Compensation Cess for export supplies, aligning with existing GST/IGST exemptions. Petition allowed with directions to review the Compensation Cess levy mechanism for export-oriented supplies.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
