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 HC held that the respondent erred in rejecting the refund claim of unutilized input tax credit on compensation cess related to zero-rated supplies, misinterpreting relevant circulars. The petitioner, engaged in manufacturing and exporting goods exempt from compensation cess, was entitled to claim refund on coal purchased for production, similar to the precedent in Patson Papers. The court directed the respondent to process and sanction the refund of the cess amount claimed. Consequently, the impugned orders rejecting the refund were quashed and set aside, and the writ petitions were allowed.
The HC held that the respondent erred in rejecting the refund claim of unutilized input tax credit on compensation cess related to zero-rated supplies, misinterpreting relevant circulars. The petitioner, engaged in manufacturing and exporting goods exempt from compensation cess, was entitled to claim refund on coal purchased for production, similar to the precedent in Patson Papers. The court directed the respondent to process and sanction the refund of the cess amount claimed. Consequently, the impugned orders rejecting the refund were quashed and set aside, and the writ petitions were allowed.
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