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...
HC quashed the impugned order dated 30.12.2023 regarding interest levy for delayed GSTR 3B return filing. The court held that interest liability ceases upon tax deposit in the electronic cash ledger, relying on precedent in a similar case. Rule 88 B(1) of C.G. & S.T. Rules, 2017 was deemed clarificatory in nature, rendering retrospective/prospective effect arguments moot. The court left open the possibility of respondent taking action for other potential penalties or non-payments. The petition was disposed of, with interest levy specifically quashed while maintaining other potential enforcement mechanisms.
HC quashed the impugned order dated 30.12.2023 regarding interest levy for delayed GSTR 3B return filing. The court held that interest liability ceases upon tax deposit in the electronic cash ledger, relying on precedent in a similar case. Rule 88 B(1) of C.G. & S.T. Rules, 2017 was deemed clarificatory in nature, rendering retrospective/prospective effect arguments moot. The court left open the possibility of respondent taking action for other potential penalties or non-payments. The petition was disposed of, with interest levy specifically quashed while maintaining other potential enforcement mechanisms.
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