Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
The AAR held that the applicant is entitled to claim input tax credit of IGST paid on import of goods even where payment to the foreign supplier was deferred beyond 180 days from invoice but made within FEMA/RBI timelines. The Authority concluded that such ITC remains admissible under Section 16 of the CGST Act, 2017 and is not liable to reversal under the second proviso to Section 16(2) read with Rule 37, since IGST was discharged at customs thereby protecting revenue and creating a situation analogous to reverse charge supplies (which fall under the proviso's exclusion). The decision rests on legislative intent reflected in GST Council recommendations.
The AAR held that the applicant is entitled to claim input tax credit of IGST paid on import of goods even where payment to the foreign supplier was deferred beyond 180 days from invoice but made within FEMA/RBI timelines. The Authority concluded that such ITC remains admissible under Section 16 of the CGST Act, 2017 and is not liable to reversal under the second proviso to Section 16(2) read with Rule 37, since IGST was discharged at customs thereby protecting revenue and creating a situation analogous to reverse charge supplies (which fall under the proviso's exclusion). The decision rests on legislative intent reflected in GST Council recommendations.
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