Pending GST appeals before two or more State Benches may be placed before the Principal Bench where an identical question of law arises and the President of GSTAT is satisfied of that condition. Transfer is not automatic and should be sought through an application or representation to the President, rather than by withdrawal and re-filing. The request should provide appeal details, identify the common legal issue, and explain why uniform adjudication is required. Applications may also be filed or mentioned before the respective pending State Benches or Registries.

Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.

Appointment of Appellate Authorities under the Madhya Pradesh GST framework is made under the State GST Act and Rule 109A of the Madhya Pradesh GST Rules. The appointed Joint Commissioners of State Tax may exercise the powers and discharge the duties of Appellate Authorities within their assigned territorial jurisdictions, including specified divisions and allocated appeal cases relating to Anti Evasion Bureaux.

Rule 164 establishes an electronic mechanism for waiver of interest, penalty, or both under section 128A for specified section 73 demands. Eligible persons must file FORM GST SPL-01 for notices or statements and FORM GST SPL-02 for demand orders, supported by tax-payment details and proof of withdrawal of pending appeals or writ petitions. The proper officer may issue a deficiency notice, accept an eligible application through FORM GST SPL-05, or reject it through FORM GST SPL-07. Timely inaction results in deemed approval. Waiver becomes void if required additional tax or specified remaining interest or penalty is not paid within the prescribed period.

Transfer-pricing benchmarking cannot aggregate independently negotiated non-associated enterprise annual maintenance contracts, involving market and credit risks, with associated enterprise marketing support services performed on a cost-plus basis; arm's length pricing requires actual segmental data. Comparable selection for software development services requires functional similarity and reliable segmental operating data: diversified software-product companies and entities with unexplained abnormal revenue and profit growth should be excluded, while certain companies require reconsideration of financial and employee-cost data. A fully funded captive cost-plus service provider bearing no working-capital risk should not receive a negative working-capital adjustment, as this would artificially increase its arm's length margin.

A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.

Penalty for concealment or furnishing inaccurate particulars is not leviable where genuine statutory expenditure is disallowed solely because its year of allowability is disputed. The payments for labour, provident fund, insurance, electricity and land-compensation dues were not alleged to be misrepresented, bogus or non-genuine. As the expenditure remained allowable either on sale of stock-in-trade or, if capital in nature, on sale of the capital asset, the dispute concerned only the timing of deduction. The penalty was therefore not sustainable.

Penalty for concealment or furnishing inaccurate particulars was not leviable where genuine statutory liabilities were claimed as revenue expenditure and the dispute concerned only the timing or manner of deduction. The expenses, including labour, provident fund, ESIC, electricity and land-compensation dues connected with acquired land, were not alleged to be false, bogus, or misrepresented. They remained allowable either through stock-in-trade on sale or as capital expenditure on sale of the capital asset. As the controversy concerned allowability timing rather than concealment or inaccurate particulars, Section 271(1)(c) penalty did not apply.

Regional rural banks are deemed to be co-operative societies for Income Tax Act purposes under the Regional Rural Banks Act, 1976. Because the restrictive CBDT Circular contains no overriding non obstante clause, it cannot alter that statutory classification or deny the benefit available under Section 80P. The stated position is that regional rural banks continue to qualify for Section 80P relief despite the circular's restrictive condition.

Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.

Depreciation on acquired intangible assets requires recomputation of written-down value under earlier Tribunal directions, followed by allowance in accordance with law; TDS credit must also be granted. For transfer pricing, CUP applies only to a genuinely comparable uncontrolled transaction; because the proposed comparables were controlled or materially dissimilar, TNMM was appropriate for sales to associated enterprises. Entities exercising dominant commercial influence through substantial sales may qualify as associated enterprises through de facto control. Goodwill amortisation from a business acquisition is non-operating and should be excluded from TNMM margins, while ordinary depreciation remains operating. The ICCD interest adjustment requires fresh computation after verification of comparability and interest rate.

Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.

Transactional Net Margin Method remained the most appropriate method for benchmarking exports of chemical additives to associated enterprises because it had been consistently accepted in comparable transactions and earlier years. With no change in facts, circumstances or law, and no sound basis to depart from the established approach, the rule of consistency precluded replacement with the Comparable Uncontrolled Price Method. The transfer-pricing adjustment was therefore deleted.

Importation of Schedule-C controlled substances requires an application under Form-K containing importer, exporter, transport, substance, quantity, packaging, valuation, invoice, licensing, and no-objection certificate particulars. Applicants must disclose the purpose and use of import, prior imports, domestic procurement, transaction arrangements, and quantities procured, consumed, resold, or lost. Supporting drug licences, commercial records, disposal details, and manufacturing or trading licences are required where applicable. First-time importers must provide additional corporate, financial, operational, regulatory, and authorised-signatory information.

The amendments operationalise waiver of interest and penalty for eligible demands under section 73 through electronic applications in FORM GST SPL-01 or SPL-02. Applicants must provide demand and payment details, make the requisite tax payment, and submit proof of withdrawal of any appeal or writ petition where applicable. The proper officer may issue a notice and provide a hearing, accept eligible applications through FORM GST SPL-05, or reject them through FORM GST SPL-07. Timely inaction results in deemed approval. Required unpaid additional tax or residual interest or penalty can render an approved waiver void.

Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.

Input tax credit for specified motor-cab related services taxed at a concessional state-tax rate is limited to the tax payable at that concessional rate on input services received in the same line of business. Credit of tax charged by the input-service supplier in excess of that rate is unavailable. The notification also revises licensing-related gambling and betting service entries and omits corresponding service-classification entries, with effect from 20 October 2023.

Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.

Madhya Pradesh SGST exemption notification is amended to provide a nil-rate entry for services supplied to a Governmental Authority relating to water supply, public health, sanitation conservancy, solid waste management, and slum improvement and upgradation. The amendment also includes the Ministry of Railways (Indian Railways), alongside the Department of Posts, in specified service-related entries, explanations and provisos. The changes are deemed effective from 20 October 2023.

In cheque dishonour proceedings, admission of the cheque and signature creates a rebuttable presumption of a legally enforceable debt, which the accused may rebut on a preponderance of probabilities through evidence or effective cross-examination. The complainant's financial capacity to advance the alleged loan and the source and timing of the transaction were not consistently substantiated; the remaining funds were unexplained and the asserted chit amount had been received earlier. Although notice service at the accused's consistently used address was accepted, the presumption stood rebutted and the underlying loan was not proved. The concurrent conviction and sentence were set aside, resulting in acquittal.