Call-recording requirements for institutional-investor client communications become non-mandatory, while institutional-investor status adopts the exis...
Restricted silver imports may clear under a valid import authorisation without additional status or exchange-routing requirements unless expressly imp...
Head Office cost allocation requires prescribed transfer-pricing methods; treaty ceilings bar surcharge and cess, while duplicate taxation is excluded...
GST interest remains payable despite voluntary tax payment before a show cause notice, but must be calculated month by month by identifying the tax liability, due date, actual payment date, and amount payable through the Electronic Cash Ledger under section 50 read with rule 88B. Interest calculated on the entire liability without verification of the electronic cash and credit ledgers requires fresh computation. Where omitted B2C turnover was accounted for, disclosed in the annual return, and fully paid before notice, section 73(5) applies; penalty under section 73(6) is unsustainable. The interest demand was remitted for recomputation and the penalty was set aside.
GST interest remains payable despite voluntary tax payment before a show cause notice, but must be calculated month by month by identifying the tax liability, due date, actual payment date, and amount payable through the Electronic Cash Ledger under section 50 read with rule 88B. Interest calculated on the entire liability without verification of the electronic cash and credit ledgers requires fresh computation. Where omitted B2C turnover was accounted for, disclosed in the annual return, and fully paid before notice, section 73(5) applies; penalty under section 73(6) is unsustainable. The interest demand was remitted for recomputation and the penalty was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
