Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The CESTAT held that imported LCD monitors designed to connect directly to ADP machines, including those used with medical equipment, are classifiable under Customs Tariff Item 8528 5200 rather than 8528 5900. Although the appellants had initially classified the goods under 8528 5900, no basic customs duty differential arose since the BCD rates for both sub-headings were identical. The Tribunal further ruled that the appropriate IGST rate applicable is 18%, not 28%, as per Notification No. 01/2017-Integrated Tax (Rate). The impugned order demanding differential additional customs duty was set aside, as the amended provisions cited did not apply to the dispute period. Consequently, the appeal was allowed, and the goods were confirmed to be liable to IGST at 18%, with the impugned order quashed.
The CESTAT held that imported LCD monitors designed to connect directly to ADP machines, including those used with medical equipment, are classifiable under Customs Tariff Item 8528 5200 rather than 8528 5900. Although the appellants had initially classified the goods under 8528 5900, no basic customs duty differential arose since the BCD rates for both sub-headings were identical. The Tribunal further ruled that the appropriate IGST rate applicable is 18%, not 28%, as per Notification No. 01/2017-Integrated Tax (Rate). The impugned order demanding differential additional customs duty was set aside, as the amended provisions cited did not apply to the dispute period. Consequently, the appeal was allowed, and the goods were confirmed to be liable to IGST at 18%, with the impugned order quashed.
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