Section 10A and related deductions: Tribunal rejects separate-undertaking claim, but allows loss set-off, ESOP cost and foreign tax credit in principl...
Entitlement to concessional IGST at 0.1% under Notification No. 41/2017-I.T.(Rate) turns on strict compliance with the Notification's prescribed conditions, particularly that the registered recipient must place an order on the registered supplier and goods must move from the registered supplier either directly to the export point or to a registered warehouse as specified. The court held that the scheme contemplates only the registered supplier and registered recipient and that supply to a third party does not meet the conditions; purposive construction in favour of the taxpayer could not override clear, express conditions. Outcome: concession denied and writ dismissed.
Entitlement to concessional IGST at 0.1% under Notification No. 41/2017-I.T.(Rate) turns on strict compliance with the Notification's prescribed conditions, particularly that the registered recipient must place an order on the registered supplier and goods must move from the registered supplier either directly to the export point or to a registered warehouse as specified. The court held that the scheme contemplates only the registered supplier and registered recipient and that supply to a third party does not meet the conditions; purposive construction in favour of the taxpayer could not override clear, express conditions. Outcome: concession denied and writ dismissed.
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