Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
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An advance ruling under section 97(2) is confined to questions arising from a supply of goods or services undertaken by the applicant, so issues relating to amounts shared with facilitators as consideration for services rendered to the applicant fell outside that scope. The Authority also noted that the taxability of transactions between the society and its members had already been decided in prior adjudication proceedings, triggering the bar under section 98(2). As the primary questions were inadmissible on these grounds, the connected questions on classification and exemption could not be entertained, and no ruling was issued on mutuality or taxability.
An advance ruling under section 97(2) is confined to questions arising from a supply of goods or services undertaken by the applicant, so issues relating to amounts shared with facilitators as consideration for services rendered to the applicant fell outside that scope. The Authority also noted that the taxability of transactions between the society and its members had already been decided in prior adjudication proceedings, triggering the bar under section 98(2). As the primary questions were inadmissible on these grounds, the connected questions on classification and exemption could not be entertained, and no ruling was issued on mutuality or taxability.
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