Suspension of insolvency professional registration prevents continued Resolution Professional appointments and restricts interim stays that effectivel...
Original works exemption for railway contracts depends on actual integrated construction scope, while accessible tax data defeats suppression allegati...
Survey surrender characterisation determines whether mixed excess stock and business-linked cash face normal taxation or special deemed-income taxatio...
Input tax credit claimed on invoices from a supplier whose registration was retrospectively cancelled requires examination of the facts and evidence for each underlying transaction. Retrospective cancellation alone does not establish credit ineligibility unless specific material shows that invoices were fictitious or sham, or that supplies were not received. Differences between figures in GST returns, standing alone, likewise do not establish an erroneous credit claim. A demand cannot be sustained on a ground materially different from the basis of the original proceedings. Subsequent amendments in GST records may be relevant to determining limited credit eligibility.
Input tax credit claimed on invoices from a supplier whose registration was retrospectively cancelled requires examination of the facts and evidence for each underlying transaction. Retrospective cancellation alone does not establish credit ineligibility unless specific material shows that invoices were fictitious or sham, or that supplies were not received. Differences between figures in GST returns, standing alone, likewise do not establish an erroneous credit claim. A demand cannot be sustained on a ground materially different from the basis of the original proceedings. Subsequent amendments in GST records may be relevant to determining limited credit eligibility.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
