Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Completed auction sales of timber before 1 July 2017 remained governed by the contractual terms and the pre-GST tax regime. The High Court held that the sale was completed on the auction dates, so the purchaser's tax liability became fixed then under the accepted contract terms requiring payment of the sale price along with Forest Development Tax and Sales Tax in force at that time. The later GST regime did not substitute that liability, because the extended payment period did not postpone completion of sale and Section 64-A of the Sale of Goods Act was excluded by the contract's contrary intention. The purchaser was therefore bound to pay the balance amount, pre-GST taxes, and contractual interest; the petition was dismissed.
Completed auction sales of timber before 1 July 2017 remained governed by the contractual terms and the pre-GST tax regime. The High Court held that the sale was completed on the auction dates, so the purchaser's tax liability became fixed then under the accepted contract terms requiring payment of the sale price along with Forest Development Tax and Sales Tax in force at that time. The later GST regime did not substitute that liability, because the extended payment period did not postpone completion of sale and Section 64-A of the Sale of Goods Act was excluded by the contract's contrary intention. The purchaser was therefore bound to pay the balance amount, pre-GST taxes, and contractual interest; the petition was dismissed.
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