Customs valuation and import permissibility conflict resolved: accepted enhancement of transaction value removes liability for confiscation and penalt...
Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
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Where a registered person trades in second-hand motor vehicles and does not avail ITC on the purchase of such vehicles, GST is payable only on the margin under Rule 32(5) read with N/N 8/2018-CT (Rate). The restriction on ITC applies only to tax paid on purchase of the used vehicles themselves; it does not bar ITC on other inward supplies used in the course or furtherance of business, including repairs, refurbishment, spare parts, and common expenses, subject to Sections 16-21 and Rules 36-45 compliance. Supplies under the margin scheme with nil margin remain taxable (value becomes zero), not exempt, hence no reversal of common ITC under Rules 42/43. - AAR
Where a registered person trades in second-hand motor vehicles and does not avail ITC on the purchase of such vehicles, GST is payable only on the margin under Rule 32(5) read with N/N 8/2018-CT (Rate). The restriction on ITC applies only to tax paid on purchase of the used vehicles themselves; it does not bar ITC on other inward supplies used in the course or furtherance of business, including repairs, refurbishment, spare parts, and common expenses, subject to Sections 16-21 and Rules 36-45 compliance. Supplies under the margin scheme with nil margin remain taxable (value becomes zero), not exempt, hence no reversal of common ITC under Rules 42/43. - AAR
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