Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
The HC held that initiation of proceedings under section 130 read with section 122 of the GST Act based on excess stock found during a survey was improper. The Court reaffirmed that section 130 proceedings are not applicable for cases involving excess stock discrepancies, which must be addressed under sections 73 or 74 of the GST Act. Reliance was placed on precedent establishing that excess stock discovered during a survey cannot trigger section 130 proceedings. Consequently, the impugned orders initiating action under section 130 were quashed, and the petition was allowed, directing the authorities to proceed under the appropriate provisions for tax recovery and assessment.
The HC held that initiation of proceedings under section 130 read with section 122 of the GST Act based on excess stock found during a survey was improper. The Court reaffirmed that section 130 proceedings are not applicable for cases involving excess stock discrepancies, which must be addressed under sections 73 or 74 of the GST Act. Reliance was placed on precedent establishing that excess stock discovered during a survey cannot trigger section 130 proceedings. Consequently, the impugned orders initiating action under section 130 were quashed, and the petition was allowed, directing the authorities to proceed under the appropriate provisions for tax recovery and assessment.
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