Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
The AT affirmed that, following review of the DGAP report and hearing, no reduction in GST rate nor accrual of benefit from Input Tax Credit arose in respect of the respondent's projects "Gurgaon Hills" and "Grand Hyatt Gurgaon Residences," and therefore no anti-profiteering liability under Section 171 of the CGST Act, 2017 attached. Consequently, the AT held that the statutory requirement to pass on benefit of rate reduction or ITC was not triggered and ordered disposal of the proceedings against the respondent. The AT directed supply of the order to the respondent and the concerned Commissioner CGST/SGST for administrative action.
The AT affirmed that, following review of the DGAP report and hearing, no reduction in GST rate nor accrual of benefit from Input Tax Credit arose in respect of the respondent's projects "Gurgaon Hills" and "Grand Hyatt Gurgaon Residences," and therefore no anti-profiteering liability under Section 171 of the CGST Act, 2017 attached. Consequently, the AT held that the statutory requirement to pass on benefit of rate reduction or ITC was not triggered and ordered disposal of the proceedings against the respondent. The AT directed supply of the order to the respondent and the concerned Commissioner CGST/SGST for administrative action.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
