Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
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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