Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Customs jurisdiction defined for Principal Commissioner, Vishakhapatnam, covering specified ports, districts and India's adjacent EEZ; effective on pu...
Rebate received from a bank for payment of excise duty through a corporate card was treated by the AAR as a post-transaction monetary adjustment, not consideration for an identifiable supply of goods or services. Because taxable supply under the GST law requires consideration and a quid pro quo, and the rebate merely reduced the applicant's monetary liability, it fell within a transaction in money and outside the scope of supply. The Authority also noted the arrangement operated as short-term financial accommodation, with the rebate functioning as a discount linked to that facility. The rebate was therefore not liable to GST.
Rebate received from a bank for payment of excise duty through a corporate card was treated by the AAR as a post-transaction monetary adjustment, not consideration for an identifiable supply of goods or services. Because taxable supply under the GST law requires consideration and a quid pro quo, and the rebate merely reduced the applicant's monetary liability, it fell within a transaction in money and outside the scope of supply. The Authority also noted the arrangement operated as short-term financial accommodation, with the rebate functioning as a discount linked to that facility. The rebate was therefore not liable to GST.
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