Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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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