Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
Page of 4809
Press 'Enter' after typing page number.
2241 to 2260 of 96177 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
GST could not be levied again on a shipping line's ocean freight services for CIF imports where the freight component had already suffered customs duty in the import transaction, because the transportation service formed part of a composite supply. The Court held that taxing the same service element separately in the hands of the petitioner would amount to double taxation and would be inconsistent with the GST scheme. Relying on Union of India v. Mohit Minerals Pvt. Ltd., it found that transportation and insurance in a CIF contract are naturally bundled with the supply of goods. The show-cause notice and adjudication order were quashed, and refund with interest was directed.
GST could not be levied again on a shipping line's ocean freight services for CIF imports where the freight component had already suffered customs duty in the import transaction, because the transportation service formed part of a composite supply. The Court held that taxing the same service element separately in the hands of the petitioner would amount to double taxation and would be inconsistent with the GST scheme. Relying on Union of India v. Mohit Minerals Pvt. Ltd., it found that transportation and insurance in a CIF contract are naturally bundled with the supply of goods. The show-cause notice and adjudication order were quashed, and refund with interest was directed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
