Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
Page of 4800
Press 'Enter' after typing page number.
261 to 280 of 96000 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The article explains that the departmental endorsement added to statutory Form ITC-02, requiring transferor and transferee to be in the same State/UT, lacks statutory basis and is unlawful; therefore it cannot be used to deny unutilised input tax credit. It states that Section 18(3) read with Rule 41 permits transfer of unutilised CGST on an NCLT approved amalgamation even where entities are in different States, and that portal restrictions are de hors the statutory scheme. Practically, until the portal is amended, the department must accept manually filed ITC-02 forms and process them within six weeks of receipt.
The article explains that the departmental endorsement added to statutory Form ITC-02, requiring transferor and transferee to be in the same State/UT, lacks statutory basis and is unlawful; therefore it cannot be used to deny unutilised input tax credit. It states that Section 18(3) read with Rule 41 permits transfer of unutilised CGST on an NCLT approved amalgamation even where entities are in different States, and that portal restrictions are de hors the statutory scheme. Practically, until the portal is amended, the department must accept manually filed ITC-02 forms and process them within six weeks of receipt.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
