Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
AAR holds that the applicant is entitled to claim input tax credit on capital goods and related services comprising underground cables, electrical equipment, supervision and installation services procured for transmission of electricity from a distribution utility's power station to the factory premises located outside the factory. The AAR accepted that the applicant satisfied the statutory prerequisites under s.16 (tax invoice, receipt of goods/services, tax paid, return filing) and found no contractual indicia that ownership vested in the distribution utility. The assets were capitalised and treated as enabling capital assets; the applicant undertook to reverse ITC under s.18(6) if ownership transfers. Consequently, ITC claim is allowed.
AAR holds that the applicant is entitled to claim input tax credit on capital goods and related services comprising underground cables, electrical equipment, supervision and installation services procured for transmission of electricity from a distribution utility's power station to the factory premises located outside the factory. The AAR accepted that the applicant satisfied the statutory prerequisites under s.16 (tax invoice, receipt of goods/services, tax paid, return filing) and found no contractual indicia that ownership vested in the distribution utility. The assets were capitalised and treated as enabling capital assets; the applicant undertook to reverse ITC under s.18(6) if ownership transfers. Consequently, ITC claim is allowed.
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