Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
Sale of a used car constitutes an outward supply in the course of business and is taxable under GST; the margin-based valuation for second hand goods (Rule 32/Notification No.8/2018) is inapplicable because the seller does not deal in buying and selling of second hand goods and the vehicle was originally purchased as new. Input tax credit on motor vehicles is blocked, and therefore the supply must be valued on transaction value under Section 15(1) with tax payable on the full consideration received rather than on any margin or profit.
Sale of a used car constitutes an outward supply in the course of business and is taxable under GST; the margin-based valuation for second hand goods (Rule 32/Notification No.8/2018) is inapplicable because the seller does not deal in buying and selling of second hand goods and the vehicle was originally purchased as new. Input tax credit on motor vehicles is blocked, and therefore the supply must be valued on transaction value under Section 15(1) with tax payable on the full consideration received rather than on any margin or profit.
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