Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
The Delhi State Tax Department adopted CBIC Circular No. 236/30/2024-GST clarifying the scope of "as is/as is, where is basis" regularization in GST matters. The circular, issued under Section 168 of CGST Act 2017 following GST Council's 54th meeting recommendation, addresses field formation doubts regarding tax regularization where competing rates existed. The clarification establishes that regularization applies when genuine interpretational doubts arose between different GST rates, allowing taxpayers who paid lower rates to treat such payments as full discharge of liability without additional payment obligations. However, those who paid higher rates receive no refunds, and regularization excludes cases where no tax was paid at all. The circular provides three illustrations demonstrating application scenarios involving rate differentials of 5%, 12%, and nil rates, emphasizing that regularization only validates actual payments made at declared rates in filed returns, not non-payment situations.
The Delhi State Tax Department adopted CBIC Circular No. 236/30/2024-GST clarifying the scope of "as is/as is, where is basis" regularization in GST matters. The circular, issued under Section 168 of CGST Act 2017 following GST Council's 54th meeting recommendation, addresses field formation doubts regarding tax regularization where competing rates existed. The clarification establishes that regularization applies when genuine interpretational doubts arose between different GST rates, allowing taxpayers who paid lower rates to treat such payments as full discharge of liability without additional payment obligations. However, those who paid higher rates receive no refunds, and regularization excludes cases where no tax was paid at all. The circular provides three illustrations demonstrating application scenarios involving rate differentials of 5%, 12%, and nil rates, emphasizing that regularization only validates actual payments made at declared rates in filed returns, not non-payment situations.
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