Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
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.