Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
A state tax authority issued nearly 6,000 GST demand notices to traders based on UPI transaction data, alleging unregistered turnover exceeding statutory thresholds. The notices are preliminary and recipients may respond with evidence to prove exemption or justify non-registration, which can lead to withdrawal of notices. Traders' associations have protested, calling for strikes and boycotts of UPI payments, citing lack of clarity and sudden enforcement. The tax department maintains the actions comply with legal provisions, emphasizing the obligation to register and remit taxes once turnover crosses prescribed limits. The department uses UPI data as an indicator but considers other payment modes and allows for hearings before final assessment. Concerns were raised about notices failing to distinguish exempt goods and mixing personal and business transactions, causing confusion among small traders. The department has conducted awareness efforts and encourages traders to engage for guidance within the law.
A state tax authority issued nearly 6,000 GST demand notices to traders based on UPI transaction data, alleging unregistered turnover exceeding statutory thresholds. The notices are preliminary and recipients may respond with evidence to prove exemption or justify non-registration, which can lead to withdrawal of notices. Traders' associations have protested, calling for strikes and boycotts of UPI payments, citing lack of clarity and sudden enforcement. The tax department maintains the actions comply with legal provisions, emphasizing the obligation to register and remit taxes once turnover crosses prescribed limits. The department uses UPI data as an indicator but considers other payment modes and allows for hearings before final assessment. Concerns were raised about notices failing to distinguish exempt goods and mixing personal and business transactions, causing confusion among small traders. The department has conducted awareness efforts and encourages traders to engage for guidance within the law.
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