CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
High Court reviewed GST treatment of voucher transactions, holding that vouchers themselves are not supplies; only the supply of underlying goods or services is taxable, and distributors acting as agents are liable only on commission/fee, not on full voucher turnover. The Court placed material reliance on the Board's circular clarifying voucher and money definitions and noted deletion of sub section (4) of Section 12 by the Finance Act, 2025 as altering time of supply law for vouchers. The order confirming demand was quashed in part and remitted to respondent no.2 for de novo consideration after hearing and allowing an additional reply.
High Court reviewed GST treatment of voucher transactions, holding that vouchers themselves are not supplies; only the supply of underlying goods or services is taxable, and distributors acting as agents are liable only on commission/fee, not on full voucher turnover. The Court placed material reliance on the Board's circular clarifying voucher and money definitions and noted deletion of sub section (4) of Section 12 by the Finance Act, 2025 as altering time of supply law for vouchers. The order confirming demand was quashed in part and remitted to respondent no.2 for de novo consideration after hearing and allowing an additional reply.
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