Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Duty drawback is specifically governed by section 145B(3), which deems it taxable as income of the previous year in which it is actually received, if not charged in an earlier year. Applying that statutory rule, the Tribunal held that taxing sanctioned duty drawback on an accrual basis during the year under consideration was unsustainable, even though the assessee followed the mercantile system. The addition was deleted and the appeal was allowed.
Duty drawback is specifically governed by section 145B(3), which deems it taxable as income of the previous year in which it is actually received, if not charged in an earlier year. Applying that statutory rule, the Tribunal held that taxing sanctioned duty drawback on an accrual basis during the year under consideration was unsustainable, even though the assessee followed the mercantile system. The addition was deleted and the appeal was allowed.
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