Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
The dominant issue was whether the marketing support and technical support services supplied to a foreign recipient under a master service agreement constituted "intermediary services" under section 2(13) of the IGST Act, thereby disentitling the supplier from treating the supply as export and claiming refund of accumulated input tax credit. On construing the agreement and contemporaneous records, it was held that the supplier was not arranging or facilitating supplies between two persons but providing services on its own account, satisfying the conditions for export of services. Consequently, the adjudication and appellate orders were set aside, the IGST demand was quashed, and refund was directed to be granted. - HC
The dominant issue was whether the marketing support and technical support services supplied to a foreign recipient under a master service agreement constituted "intermediary services" under section 2(13) of the IGST Act, thereby disentitling the supplier from treating the supply as export and claiming refund of accumulated input tax credit. On construing the agreement and contemporaneous records, it was held that the supplier was not arranging or facilitating supplies between two persons but providing services on its own account, satisfying the conditions for export of services. Consequently, the adjudication and appellate orders were set aside, the IGST demand was quashed, and refund was directed to be granted. - HC
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