GSTAT accepted the DGAP finding that the ratio of credit availed to purchase value declined after GST implementation. Since no additional ITC benefit accrued, no profiteering was established.
GSTAT held that the retailer failed to pass on the benefit of GST reduction from 28% to 18% through commensurate price cuts. The Tribunal directed deposit of ₹13.61 crore in Consumer Welfare Funds.
The dispute centred on whether the airport taxi operator had exclusive control over transportation services. The Commission relied on the licence agreement’s non-exclusivity clause and found no prima facie abuse of dominant position.
ITAT Mumbai held that an addition under Section 69 could not be sustained merely on the basis of statements recorded from representatives of the builder group. In the absence of incriminating material directly linking the assessee to the alleged cash payment, the addition of ₹31 lakh was deleted.
The article explains RBI’s decision to reduce the export proceeds realization period from 15 months to 9 months and its impact on GST refunds, export incentives, and exporter compliance obligations.
Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and deducts tax under Section 194P.
The Tribunal held that a medicine containing Ergotamine was merely a preparation and not “Ergotamine and its salts” under Schedule-B of the NDPS Order. As no NOC was required, the penalty imposed on the Customs Broker was quashed.
Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. Non-compliance can attract a ₹25,000 penalty.
The Gauhati High Court held that a taxpayer whose GST registration was cancelled for non-filing of returns could seek restoration by complying with Rule 22(4) of the CGST Rules. The Court directed the authorities to consider the application upon payment of dues.
This guide explains the fundamentals of GST, including CGST, SGST, IGST, and UTGST. It also highlights how these classifications impact GST filing and input tax credit claims.
