Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Rule 39(1)(a) of the GST Rules survives constitutional challenge when read with the entitlement scheme: the phrase "input tax credit available for distribution in a month" must be construed to mean ITC that has become legally available after satisfaction of entitlement conditions in Section 16(2). The Rule does not mandate distribution merely on invoice issuance; distribution is required in the month the recipient becomes entitled to credit. Show cause notices alleging delayed distribution are remitted for fresh adjudication applying this construction; petitioners given two months to file replies where applicable.
Rule 39(1)(a) of the GST Rules survives constitutional challenge when read with the entitlement scheme: the phrase "input tax credit available for distribution in a month" must be construed to mean ITC that has become legally available after satisfaction of entitlement conditions in Section 16(2). The Rule does not mandate distribution merely on invoice issuance; distribution is required in the month the recipient becomes entitled to credit. Show cause notices alleging delayed distribution are remitted for fresh adjudication applying this construction; petitioners given two months to file replies where applicable.
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