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Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
The HC held that the petitioner is not entitled to ITC on electricity consumed for township maintenance, as such consumption is not in the course or furtherance of business under Section 16(1) of the CGST Act. ITC on exempt supply of DCS prior to 5-7-2022 was disallowed, as the sale of DCS was exempt and excluded from ITC eligibility. The amendment dated 5-7-2022, which excluded DCS from the aggregate value of exempt supplies, was held to be clarificatory in scope but not retrospective and thus does not entitle the petitioner to ITC before that date. ITC is a concession granted by statute and not a substantive right. Consequently, the appeals were dismissed, and the writ petitions were denied, affirming that the petitioner cannot claim ITC on township electricity consumption or on exempt DCS supplies before the amendment's effective date.
The HC held that the petitioner is not entitled to ITC on electricity consumed for township maintenance, as such consumption is not in the course or furtherance of business under Section 16(1) of the CGST Act. ITC on exempt supply of DCS prior to 5-7-2022 was disallowed, as the sale of DCS was exempt and excluded from ITC eligibility. The amendment dated 5-7-2022, which excluded DCS from the aggregate value of exempt supplies, was held to be clarificatory in scope but not retrospective and thus does not entitle the petitioner to ITC before that date. ITC is a concession granted by statute and not a substantive right. Consequently, the appeals were dismissed, and the writ petitions were denied, affirming that the petitioner cannot claim ITC on township electricity consumption or on exempt DCS supplies before the amendment's effective date.
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