Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
The text addresses whether cross border 'unbilled shipments' qualify as zero rated supply under the IGST regime when no convertible foreign exchange is received. It highlights a statutory tension between liability under Section 7 CGST and entitlement to zero rating under Section 16(1) read with the export definition in Section 2(6) IGST, which requires receipt of consideration in convertible foreign exchange; non receipt may sustain tax liability yet deny zero rating. The court confined adjudication to that interpretative question, issued notice, deferred the refund claim, invited the CBIC to state or clarify its position, and treated the petitioner's factual stance as a representation.
The text addresses whether cross border 'unbilled shipments' qualify as zero rated supply under the IGST regime when no convertible foreign exchange is received. It highlights a statutory tension between liability under Section 7 CGST and entitlement to zero rating under Section 16(1) read with the export definition in Section 2(6) IGST, which requires receipt of consideration in convertible foreign exchange; non receipt may sustain tax liability yet deny zero rating. The court confined adjudication to that interpretative question, issued notice, deferred the refund claim, invited the CBIC to state or clarify its position, and treated the petitioner's factual stance as a representation.
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