Charity-run tree plantation and maintenance for environmental preservation qualifies as "charitable activity", making supplies GST-exempt under Notifi...
Drawings/designs supply and erection supervision fees from German contractor: designs non-taxable; supervision taxed as FTS/PE depending on six-month ...
Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Interpretation of the Interest Equalisation Scheme and DGFT clarification on whether interest subvention reduces from 5% to 3% from 1 October 2021 for export credit whose tenor extends beyond 30 September 2021 was decided by holding that the phrase "only for the period upto 30th September, 2021" governs benefits to be passed on by the bank, not the credit tenor, and the DGFT clarification confirms tenor is irrelevant. As the bank had discounted export bills and upfront passed the 5% benefit knowing the credit ran beyond 30 September 2021, it could not later claw back the differential; recovery from the exporter was wrongful. Refund of the recovered amount with 8% interest from the recovery date and costs was decreed. - HC
Interpretation of the Interest Equalisation Scheme and DGFT clarification on whether interest subvention reduces from 5% to 3% from 1 October 2021 for export credit whose tenor extends beyond 30 September 2021 was decided by holding that the phrase "only for the period upto 30th September, 2021" governs benefits to be passed on by the bank, not the credit tenor, and the DGFT clarification confirms tenor is irrelevant. As the bank had discounted export bills and upfront passed the 5% benefit knowing the credit ran beyond 30 September 2021, it could not later claw back the differential; recovery from the exporter was wrongful. Refund of the recovered amount with 8% interest from the recovery date and costs was decreed. - HC
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