International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Profiteering under the GST regime was examined where the respondent demonstrated passing Input Tax Credit benefits to home buyers; verification of vouchers reduced the computed profiteered amount and ultimately showed benefits passed in excess of the computed profiteered sum, satisfying the statutory requirement. On that factual basis the article notes no penalty was imposed because the benefit was transmitted to eligible recipients. It records that interest remains payable under applicable GST rules, directs calculation and payment of interest to recipients, and requires compliance reports to jurisdictional officers and the investigative agency confirming payment and reconciliation of the benefit transfer.
Profiteering under the GST regime was examined where the respondent demonstrated passing Input Tax Credit benefits to home buyers; verification of vouchers reduced the computed profiteered amount and ultimately showed benefits passed in excess of the computed profiteered sum, satisfying the statutory requirement. On that factual basis the article notes no penalty was imposed because the benefit was transmitted to eligible recipients. It records that interest remains payable under applicable GST rules, directs calculation and payment of interest to recipients, and requires compliance reports to jurisdictional officers and the investigative agency confirming payment and reconciliation of the benefit transfer.
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