Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
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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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