Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
The tax authority withdraws its prior circular dated 26 June 2024 that had prescribed a procedure for suppliers to provide evidence of compliance with Section 15(3)(b)(ii) of the CGST Act concerning reversal of input tax credit for discounts; the withdrawn procedure is no longer required. Field formations are directed to publicize the withdrawal via trade notices and to report any implementation difficulties to the authority.
The tax authority withdraws its prior circular dated 26 June 2024 that had prescribed a procedure for suppliers to provide evidence of compliance with Section 15(3)(b)(ii) of the CGST Act concerning reversal of input tax credit for discounts; the withdrawn procedure is no longer required. Field formations are directed to publicize the withdrawal via trade notices and to report any implementation difficulties to the authority.
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