Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
The GST Council at its 55th meeting approved ratification of recent notifications and GIC decisions; adopted retrospective amendments to clarify "plant and machinery" and to include FTWZ/SEZ warehoused goods in Schedule III; authorised enabling provisions for a track-and-trace regime and related penalties; approved multiple Law Committee and Fitment Committee recommendations (including IMS-related amendments, B2C e-invoicing pilot inclusion for one State, rate changes such as reduced GST on fortified rice kernels and nil on gene therapy, classification clarifications, and several regularizations "as-is-where-is"); deferred or referred complex issues for further examination; directed IGST settlement reforms with implementation by March 2025; extended GoM tenures and constituted new GoMs for specific policy matters.
The GST Council at its 55th meeting approved ratification of recent notifications and GIC decisions; adopted retrospective amendments to clarify "plant and machinery" and to include FTWZ/SEZ warehoused goods in Schedule III; authorised enabling provisions for a track-and-trace regime and related penalties; approved multiple Law Committee and Fitment Committee recommendations (including IMS-related amendments, B2C e-invoicing pilot inclusion for one State, rate changes such as reduced GST on fortified rice kernels and nil on gene therapy, classification clarifications, and several regularizations "as-is-where-is"); deferred or referred complex issues for further examination; directed IGST settlement reforms with implementation by March 2025; extended GoM tenures and constituted new GoMs for specific policy matters.
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