Explains Section 130 GST, its distinction from Section 129, transit documentation requirements and Karnataka enforcement practices involving confiscation.
ROC Mumbai imposed penalties under Sections 450 and 62(3) for converting a loan into equity before obtaining prior shareholder approval.
Article explains ITC as a statutory concession under Section 16 and outlines the proposed GST Council safeguard for buyers where suppliers default on tax payment.
Surat ITAT held BSNL VRS-2019 ex-gratia is eligible for Section 10(10B) exemption, condoned delay and directed AO to verify and grant relief.
Patna ITAT deleted search-based additions lacking corroborative evidence and restored the Section 56(2)(x) issue for fresh adjudication.
