Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Additional input tax credit under GST that increased the ITC-to-purchase ratio was treated as a benefit required to be passed on through commensurate price reduction under anti-profiteering law; the plea that unutilised ITC under an inverted duty structure was not a real benefit, and that prices were fixed by contract, was rejected. The profiteered amount was held to include the GST component because the excess was collected from buyers inclusive of tax. Interest was held mandatory on the amount not passed on, running from collection until refund. Penalty under Section 171(3A) was held attracted for the contravention period, subject to the statutory proviso on timely deposit.
Additional input tax credit under GST that increased the ITC-to-purchase ratio was treated as a benefit required to be passed on through commensurate price reduction under anti-profiteering law; the plea that unutilised ITC under an inverted duty structure was not a real benefit, and that prices were fixed by contract, was rejected. The profiteered amount was held to include the GST component because the excess was collected from buyers inclusive of tax. Interest was held mandatory on the amount not passed on, running from collection until refund. Penalty under Section 171(3A) was held attracted for the contravention period, subject to the statutory proviso on timely deposit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
