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...
GST treatment of tax on credit notes for returned goods requires distinguishing a GSTR-3B/GSTR-2A mismatch from wrongful input tax credit. Credit-note tax relating to the supplier's own outward supply is not input tax and should reduce output tax liability; where credit notes are timely declared, original output tax was paid, and no duplicate reduction or revenue loss arises, incorrect return-table reporting is procedural. A demand must remain within the grounds stated in the show cause notice. For 2017-18, recipient reversal of credit was not a condition for the supplier's output-tax reduction; recipient non-reversal is separately assessable. Interest and penalty depend on tax being due.
GST treatment of tax on credit notes for returned goods requires distinguishing a GSTR-3B/GSTR-2A mismatch from wrongful input tax credit. Credit-note tax relating to the supplier's own outward supply is not input tax and should reduce output tax liability; where credit notes are timely declared, original output tax was paid, and no duplicate reduction or revenue loss arises, incorrect return-table reporting is procedural. A demand must remain within the grounds stated in the show cause notice. For 2017-18, recipient reversal of credit was not a condition for the supplier's output-tax reduction; recipient non-reversal is separately assessable. Interest and penalty depend on tax being due.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4905 
