Duplicate PAN cancellation timeframe requires prior administrative representation before judicial intervention, ensuring a time-bound decision on the ...
Natural justice and pre-CIRP labour awards protect termination compensation, permitting withdrawal of court deposits despite later insolvency resoluti...
Arbitration of SEZ sub-lease monetary claims preserves rent, maintenance, termination, improvements and damages disputes while unused premises are vac...
Scientific research approval grants a research association tax recognition, subject to annual donor reporting, certification, and regulatory complianc...
Credit notes validly issued for returned or rejected supplies reduce taxable turnover and are deductible from adjusted total turnover under the zero-rated supply refund formula. Credit notes issued during the refund period against invoices for Financial Year 2019-20 after expiry of the statutory time limit cannot be excluded from adjusted total turnover and must be included on recomputation. As the recomputed refund remained within the maximum permissible amount, the refund already sanctioned remained admissible and the Revenue challenge failed.
Credit notes validly issued for returned or rejected supplies reduce taxable turnover and are deductible from adjusted total turnover under the zero-rated supply refund formula. Credit notes issued during the refund period against invoices for Financial Year 2019-20 after expiry of the statutory time limit cannot be excluded from adjusted total turnover and must be included on recomputation. As the recomputed refund remained within the maximum permissible amount, the refund already sanctioned remained admissible and the Revenue challenge failed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4912 
