Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
HC held that the petitioners, being 100% EOUs making zero-rated supplies under LUT, are exporters and not "deemed exporters" under s.2(39) r/w s.147 of the GST Act. Since their suppliers treated supplies as regular B2B and did not follow deemed export procedure or claim deemed export benefits, para 2.2 of Circular No. 172/04/2022-GST and Rule 89(4A) are inapplicable. The petitioners correctly claimed refund of unutilised ITC under s.54(3) r/w Rule 89(1)/89(4). The authorities' reliance on the Circular with retrospective effect and exercise of suo motu review under s.107(2) to deny or revisit sanctioned refunds was held unsustainable. The HC allowed the petitions, restoring the refund claims of unutilised ITC.
HC held that the petitioners, being 100% EOUs making zero-rated supplies under LUT, are exporters and not "deemed exporters" under s.2(39) r/w s.147 of the GST Act. Since their suppliers treated supplies as regular B2B and did not follow deemed export procedure or claim deemed export benefits, para 2.2 of Circular No. 172/04/2022-GST and Rule 89(4A) are inapplicable. The petitioners correctly claimed refund of unutilised ITC under s.54(3) r/w Rule 89(1)/89(4). The authorities' reliance on the Circular with retrospective effect and exercise of suo motu review under s.107(2) to deny or revisit sanctioned refunds was held unsustainable. The HC allowed the petitions, restoring the refund claims of unutilised ITC.
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