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...
State tax authority adopts central GST Policy Wing circular to clarify treatment of secondary/post-sale discounts. Financial or commercial credit notes do not reduce the original transaction value, so recipients need not reverse input tax credit. Post-sale discounts from a manufacturer to a dealer are generally treated as price reductions and not as consideration for the dealer's supply to end customers, unless there is an agreement between manufacturer and end customer making the discount an inducement; such discounts must be included in overall consideration in that case. Discounts are not consideration for separate services unless specific, agreed promotional services with defined consideration are provided.
State tax authority adopts central GST Policy Wing circular to clarify treatment of secondary/post-sale discounts. Financial or commercial credit notes do not reduce the original transaction value, so recipients need not reverse input tax credit. Post-sale discounts from a manufacturer to a dealer are generally treated as price reductions and not as consideration for the dealer's supply to end customers, unless there is an agreement between manufacturer and end customer making the discount an inducement; such discounts must be included in overall consideration in that case. Discounts are not consideration for separate services unless specific, agreed promotional services with defined consideration are provided.
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