Job work under heading 9988 covers treatment or processing of goods belonging to another registered person and falls within item (id). Manufacturing services on physical inputs owned by others under item (iv) exclude such job work and apply where the inputs belong to persons other than registered persons under the DGST Act. The entries operate in distinct fields.

Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank-loan funds through fake or forged project-completion reports. The allegations include sale of five mortgaged properties at grossly undervalued consideration, with some buyers suspected to be benamis or proxies. These sales were allegedly intended to alienate assets and prevent their attachment under anti-money-laundering law.

Banking services at public sector banks were disrupted by a nationwide strike seeking a five-day workweek and resolution of wage-related demands. Branch operations affecting cash deposits, withdrawals, cheque clearance and administrative work were impacted, while digital banking channels remained functional. The central demand is declaration of all Saturdays as bank holidays, with other pending issues concerning pension updation, uniform dearness allowance for pensioners, and an option for National Pension System employees to move to the Old Pension Scheme.

Goodwill qualifies as an intangible asset eligible for depreciation. Applying the governing Supreme Court ruling, the contrary appellate view cannot be sustained, and depreciation on goodwill is allowable in favour of the assessee.

Eligible registered persons with aggregate turnover not exceeding two crore rupees may choose not to furnish annual returns for financial years 2017-18 and 2018-19, with an unfurnished return deemed furnished on its due date. Eligible composition taxpayers may file FORM GSTR-9A, and other eligible registered persons may file FORM GSTR-9, only before the applicable due date. Taxpayers identifying short-paid tax or ineligible input tax credit during account reconciliation may voluntarily self-assess and pay the liability through FORM GST DRC-03.

GST recovery from entities undergoing insolvency proceedings requires timely filing of departmental claims as an operational creditor. Admission of insolvency proceedings triggers a moratorium that bars recovery action, including bank attachment, while assessments and interest may extend only up to the moratorium date. Claims must be supported by assessment and recovery records. An approved resolution plan binds the Department; if liquidation begins, claims must be filed afresh with the liquidator. Officers must track proceedings, file claims and appeals within time, and prevent revenue loss.

US-led maritime blockade and sanctions are assessed as substantially restricting Iran's oil exports while enabling increased non-Iranian petroleum flows through the Strait of Hormuz and alternative routes. The conflict continues to disrupt a major global oil-and-gas transit corridor despite partial restoration of shipping flows. Regional proxy attacks on oil facilities and shipping near the Bab el-Mandeb extend the disruption, threatening Red Sea and Suez Canal routes and contributing to higher energy prices and inflationary pressure.

Rupee depreciation against the US dollar was attributed to elevated crude oil prices, rising global yields and net foreign portfolio equity outflows, which increased pressure through the import bill. Record foreign exchange reserves, active Reserve Bank market intervention and robust domestic growth provided countervailing support. Sustained costly crude oil and foreign portfolio outflows nevertheless remained the principal near-term pressures on currency stability.

Wrongful buyer rejection of a valid GST credit note may add the related GST amount to the supplier's output tax liability. Same-month rejection is rectified through Form GSTR-1A, Table 9, by amending the credit note with unchanged original particulars. Later-period rejection is rectified through the current unfiled GSTR-1, Table 9C, using the same historical credit-note details. A Table 9C amendment may create a zero-delta GSTR-1 entry while GSTR-3B continues to show the rejection-related tax addition. Buyer acceptance in IMS is required to remove the tax clawback and reconcile the returns.

Large-value GST refunds for zero-rated supplies require accurate application of the Rule 89(4) formula, including reconciliation of Net ITC with GSTR-2B and the electronic credit ledger, application of the domestic-value cap, and correct Adjusted Total Turnover. A deficiency memo treats an incomplete application as not filed, while a merit-based proposed rejection requires notice, written response and an opportunity of being heard. Objection-specific documentation should address ITC eligibility, export nexus, export-realisation evidence, turnover reconciliation, credit notes, Letter of Undertaking validity and exempt-supply classification.

Respondent taxpayers should ordinarily file a ground-wise Counter/Reply with supporting documents within one month of receiving a departmental appeal under Rule 36 of the GSTAT (Procedure) Rules, 2025. The Reply should address the specific factual and legal challenges, link them to favourable appellate findings, and organise the relevant record. Written Submissions are distinct hearing-oriented materials and may later present detailed legal propositions and precedents. An affidavit is not automatically required, but may be relevant for additional factual material or where specifically required. Any adverse part of the Order-in-Appeal may require separate consideration of a Cross-Objection or other statutory remedy.

GST adjudicatory proceedings commence through issuance of a show-cause notice, which crystallises the liability or contravention to be decided. The notice must clearly identify the allegations, relevant transactions and period, legal provisions, evidence, quantification, and proposed consequences. Section 75 confines an adjudication order to the grounds and amounts stated in the notice and requires relevant facts and reasons for the decision. The order must consider the taxpayer's defence, evaluate evidence, record findings, and explain the quantified consequence. Search, seizure and summons remain investigative measures and do not by themselves define the subject matter of adjudication.

GSTR-2A-GSTR-3B input tax credit mismatches require reconciliation and cannot be determined solely by comparing return figures. Fresh adjudication must remain within the tax heads, grounds and amount in the show-cause notice and cannot enlarge the demand. The adjudicating authority must undertake invoice-wise and, where necessary, supplier-wise verification; examine invoices, purchase records, books and the electronic credit ledger; verify supplier compliance and taxpayer bona fides; and assess applicable credit conditions for the relevant periods. Interest and penalty must follow the fresh tax determination.

Input tax credit under GST enables a registered person to use eligible tax paid on inward supplies for discharging tax liability on outward supplies and reduces cascading taxation. Eligibility, availment and utilisation remain subject to prescribed documents, receipt of supplies, payment of tax, return filing, supplier invoice reporting, time limits, restrictions and reversal. Input tax credit is a conditional statutory entitlement rather than an inherent, constitutional or unconditional vested right. Tax paid at a preceding stage does not by itself create an enforceable claim to credit; prescribed statutory requirements must be fulfilled.

The substituted proviso to section 107(6) of the CGST Act, effective from 1 October 2025, extends the pre-deposit requirement to appeals against penalty-only orders. The right of appeal is treated as a substantive right vesting upon issuance of the show-cause notice. Accordingly, where the show-cause notice preceded 1 October 2025, subsequent proceedings or a later penalty order do not attract the amended pre-deposit condition. The expanded requirement applies prospectively to proceedings initiated on or after its effective date.

E-way bill compliance governs movement of consignments exceeding the prescribed threshold, assessed per consignment rather than by the aggregate value carried in a vehicle. Movement particulars must be generated and validated on the common portal. Intercepting officers may verify prescribed documents, devices and goods, subject to online reporting requirements and safeguards against repeated physical verification without specific tax-evasion information. Minor typographical errors in specified e-way bill particulars do not warrant confiscation, while penalty proceedings after detention or seizure are subject to prescribed notice and order timelines.

For a listed public company, the first proviso to Section 68 does not require explanation of the source of shareholders' funds, although the company must establish investor identity, creditworthiness and transaction genuineness. PAN and tax particulars, banking records, application and allotment documents, demat credits, shareholder confirmations and financial records can discharge that initial burden where no specific defects or independent contrary enquiry exist. Reassessment under Sections 147 and 148 requires fresh tangible material; reopening based on already disclosed balance-sheet information, an inapplicable share-premium provision, and additions unrelated to recorded reasons is invalid. The Section 68 addition and reassessment consequently cannot survive.

Section 14 of the Insolvency and Bankruptcy Code bars the institution or continuation of proceedings against a corporate debtor once the corporate insolvency resolution process begins. Section 238 gives the Code overriding effect over inconsistent laws. Accordingly, revisional proceedings under section 263 of the Income-tax Act cannot continue during the moratorium, and a revisional order issued in that period is unsustainable. Such proceedings may be revived and reframed after the moratorium ends, if otherwise permitted by law.

A reassessment return filed while an advance-ruling application on the transaction's taxability remained pending is to be treated as a return under Section 139 where the pending application provides a bona fide explanation for delayed filing. Verified TDS and prepaid-tax credits cannot be limited to adjustment against an outstanding demand; any excess after payment of the finally determined tax liability must be refunded with applicable statutory interest. Precedent concerning concluded substantive computation issues in reassessment does not restrict credit for prepaid taxes.

Addition of unexplained money under Section 69A requires prior notice identifying that proposed variation and a meaningful opportunity for the assessee to explain the amount. Where the show-cause notice proposes additions under different provisions but does not notify a contemplated Section 69A addition, the assessee is deprived of an opportunity to respond to the actual basis of assessment. Such a Section 69A addition is unsustainable for breach of notice and opportunity requirements.