Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Retrospective GST demand on insurance supplies to SEZ units raised a prima facie jurisdictional issue, because the amendment inserting the words "for authorised operations" could not, at this stage, be used to tax past supplies that had been treated as zero-rated. The Court found the challenge arguable on the competence to levy tax retrospectively for the period before 1 October 2023 and noted the statutory definition of "recipient" under the CGST Act, observing that the SEZ units had subscribed to the policies and paid the consideration. Pending final hearing, the impugned orders were stayed.
Retrospective GST demand on insurance supplies to SEZ units raised a prima facie jurisdictional issue, because the amendment inserting the words "for authorised operations" could not, at this stage, be used to tax past supplies that had been treated as zero-rated. The Court found the challenge arguable on the competence to levy tax retrospectively for the period before 1 October 2023 and noted the statutory definition of "recipient" under the CGST Act, observing that the SEZ units had subscribed to the policies and paid the consideration. Pending final hearing, the impugned orders were stayed.
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