Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The state government confirmed that there has been no loss of Goods and Services Tax (GST) revenue due to companies routing sales and billing through corporate offices outside the state. Under the destination-based GST regime effective from July 2017, tax revenue accrues to the state where goods or services are consumed, not where they are manufactured or billed. Consequently, the state receives GST on all goods and services consumed within its territory regardless of the location of the corporate office. Similarly, goods manufactured within the state but consumed elsewhere result in tax revenue accruing to the state of consumption. This clarification was provided in response to concerns raised about potential revenue loss from out-of-state billing practices.
The state government confirmed that there has been no loss of Goods and Services Tax (GST) revenue due to companies routing sales and billing through corporate offices outside the state. Under the destination-based GST regime effective from July 2017, tax revenue accrues to the state where goods or services are consumed, not where they are manufactured or billed. Consequently, the state receives GST on all goods and services consumed within its territory regardless of the location of the corporate office. Similarly, goods manufactured within the state but consumed elsewhere result in tax revenue accruing to the state of consumption. This clarification was provided in response to concerns raised about potential revenue loss from out-of-state billing practices.
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