Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
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.
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