Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Anti profiteering provisions are treated as consumer protective and the six month period in Rule 133 is directory, so proceedings are not time barred. Where a supplier increased base prices coincident with a GST rate reduction, the presumption that tax benefit was not passed applies and the supplier is required to disgorge the profiteered amount. Interest on the disgorged amount can be imposed only from the date the interest clause became effective (28.06.2019). Penalty under the provision that came into force later cannot be applied retrospectively. Half the recovered amount is directed to the central consumer welfare fund and half to the state fund.
Anti profiteering provisions are treated as consumer protective and the six month period in Rule 133 is directory, so proceedings are not time barred. Where a supplier increased base prices coincident with a GST rate reduction, the presumption that tax benefit was not passed applies and the supplier is required to disgorge the profiteered amount. Interest on the disgorged amount can be imposed only from the date the interest clause became effective (28.06.2019). Penalty under the provision that came into force later cannot be applied retrospectively. Half the recovered amount is directed to the central consumer welfare fund and half to the state fund.
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