Business deductions and transfer pricing issues: tribunal treatment of software write-offs, donation receipts, warranty provisions, and related expens...
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Petitioner's failure to rectify discrepant GSTR-1 entries within the prescribed rectification window (deadline 20.10.2020) meant the short payment of CGST and SGST was recoverable under Section 73(9); the Assessing Officer's tax demand of Rs. 4,38,566 with interest and penalty was upheld. Excess availment of Input Tax Credit beyond GSTR-2A (Rs. 11,374) constituted wrongful ITC, warranting penalty which was imposed after deposit. The writ was dismissed and the recovery proceedings sustained. - HC
Petitioner's failure to rectify discrepant GSTR-1 entries within the prescribed rectification window (deadline 20.10.2020) meant the short payment of CGST and SGST was recoverable under Section 73(9); the Assessing Officer's tax demand of Rs. 4,38,566 with interest and penalty was upheld. Excess availment of Input Tax Credit beyond GSTR-2A (Rs. 11,374) constituted wrongful ITC, warranting penalty which was imposed after deposit. The writ was dismissed and the recovery proceedings sustained. - HC
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