Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Circular clarifies GST treatment of secondary/post-sale discounts: when suppliers issue financial/commercial credit notes that do not reduce the original transaction value, recipients need not reverse input tax credit as the supplier's tax liability remains unchanged. Post-sale discounts from a manufacturer to a dealer are generally viewed as price reductions between independent sales (manufacturer→dealer; dealer→customer) and are not treated as consideration for inducement of the dealer's supply, unless the manufacturer has a direct agreement with the end customer-then such discounts should be included in overall consideration. Discounts are not consideration for promotional services unless a separate agreement specifies distinct services and consideration.
Circular clarifies GST treatment of secondary/post-sale discounts: when suppliers issue financial/commercial credit notes that do not reduce the original transaction value, recipients need not reverse input tax credit as the supplier's tax liability remains unchanged. Post-sale discounts from a manufacturer to a dealer are generally viewed as price reductions between independent sales (manufacturer→dealer; dealer→customer) and are not treated as consideration for inducement of the dealer's supply, unless the manufacturer has a direct agreement with the end customer-then such discounts should be included in overall consideration. Discounts are not consideration for promotional services unless a separate agreement specifies distinct services and consideration.
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