Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
The HC held that the retrospective extension of the time limit to avail input tax credit under sub-section (4) of Section 16 of the CGST Act, as per the Ministry of Finance circular dated 15-10-2024, permits taxpayers to seek rectification of orders passed under Sections 73, 74, 107, or 108 of the CGST Act regarding wrongful input tax credit claims. Pursuant to the special procedure under Section 148, notified on 8-10-2024, rectification applications may be filed within six months from 15-10-2024, i.e., until 15-4-2025. The petitioner was granted leave to file such an application, and the petition was accordingly disposed of.
The HC held that the retrospective extension of the time limit to avail input tax credit under sub-section (4) of Section 16 of the CGST Act, as per the Ministry of Finance circular dated 15-10-2024, permits taxpayers to seek rectification of orders passed under Sections 73, 74, 107, or 108 of the CGST Act regarding wrongful input tax credit claims. Pursuant to the special procedure under Section 148, notified on 8-10-2024, rectification applications may be filed within six months from 15-10-2024, i.e., until 15-4-2025. The petitioner was granted leave to file such an application, and the petition was accordingly disposed of.
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