Appeal allows marketing payments as deductible business expenses under Sec.37; director pay retained; R&D deductible from certificate date under Sec.3...
Registration under s.12AB upheld; CIT(Exemptions) exceeded jurisdiction by deciding taxability instead of preliminary verification and registration di...
The HC held that the impugned IGST levy on ocean freight under the reverse-charge notifications was ultra vires and contrary to the GST scheme, requiring refund of Rs. 2,62,37,558 paid by the Petitioner; the Respondents have refunded that amount. The petition further succeeded in claiming interest of Rs. 71,31,225, which the HC directed the Respondents to pay forthwith and in any event within four weeks of judgment. The court clarified that Sections 54/56 were inapplicable to the initial unlawful collection, but nonetheless sanctioned the quantified interest on the merits. Petition disposed.
The HC held that the impugned IGST levy on ocean freight under the reverse-charge notifications was ultra vires and contrary to the GST scheme, requiring refund of Rs. 2,62,37,558 paid by the Petitioner; the Respondents have refunded that amount. The petition further succeeded in claiming interest of Rs. 71,31,225, which the HC directed the Respondents to pay forthwith and in any event within four weeks of judgment. The court clarified that Sections 54/56 were inapplicable to the initial unlawful collection, but nonetheless sanctioned the quantified interest on the merits. Petition disposed.
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