Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
