Transfer pricing method selection favours TNMM where medical-equipment distribution involves substantial post-import value addition and operational ri...
Post-export shipping bill conversion remains available where contemporaneous evidence supports EPCG benefits despite curable procedural omissions and ...
The SC dismissed the Special Leave Petitions challenging the levy of GST on regulatory fees collected by CERC and DERC. The Court upheld the High Court's finding that the regulatory functions performed by these Commissions do not constitute "business" under Section 2(17) of the CGST Act. Consequently, revenue derived from such regulatory activities is not taxable under the CGST and IGST Acts. The distinction drawn between adjudicatory and regulatory functions was rejected as a basis for GST liability. The petitions lacked merit and were dismissed accordingly.
The SC dismissed the Special Leave Petitions challenging the levy of GST on regulatory fees collected by CERC and DERC. The Court upheld the High Court's finding that the regulatory functions performed by these Commissions do not constitute "business" under Section 2(17) of the CGST Act. Consequently, revenue derived from such regulatory activities is not taxable under the CGST and IGST Acts. The distinction drawn between adjudicatory and regulatory functions was rejected as a basis for GST liability. The petitions lacked merit and were dismissed accordingly.
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