Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
The HC held that Rule 86-A of the CGST Rules cannot be construed to effectuate "negative blocking" of Input Tax Credit by precluding credits that were not present in the petitioner's Electronic Credit Ledger on the date the satisfaction and blocking order were recorded. Applying a literal construction of the taxing statute, the court found no ambiguity permitting the blocking of prospective or subsequently accruing ITC and concluded such an interpretation would exceed the rule-making power and contradict the rule framers' intent. The impugned blocking notice was quashed and set aside; the petition succeeded and the application was disposed of.
The HC held that Rule 86-A of the CGST Rules cannot be construed to effectuate "negative blocking" of Input Tax Credit by precluding credits that were not present in the petitioner's Electronic Credit Ledger on the date the satisfaction and blocking order were recorded. Applying a literal construction of the taxing statute, the court found no ambiguity permitting the blocking of prospective or subsequently accruing ITC and concluded such an interpretation would exceed the rule-making power and contradict the rule framers' intent. The impugned blocking notice was quashed and set aside; the petition succeeded and the application was disposed of.
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