This explains how fair market value governs taxation under multiple provisions including gifts, ESOPs, and slump sales. It highlights that prescribed valuation rules ensure consistent computation of deemed income.
Courts held that bona fide buyers cannot lose ITC due to supplier non-payment of GST. The key takeaway is protection of genuine taxpayers with proper documentation.
The new regime offers a concessional 22% tax rate for domestic companies. However, key deductions and depreciation benefits are restricted, requiring careful evaluation.
The law consolidates earlier TCS provisions under a new section without changing rates. The key takeaway is the need to update compliance references from April 2026.
The authority held that oxygen supply through installed infrastructure is a composite supply of goods. The key takeaway is that principal supply determines GST classification.
The law permits non-resident directors to attend Board Meetings through video conferencing. Such participation is valid for quorum if procedural requirements are followed.
While HSN mirroring works for goods, it creates classification errors in services. The key takeaway is that service classification depends on nature and context of supply.
The Supreme Court held that non-supply of written grounds of arrest violates constitutional safeguards. The arrest and remand were declared illegal, leading to grant of bail.
Courts held that cash is not covered under things in GST search provisions unless it serves as evidence. The ruling restricts arbitrary seizure and reinforces that GST searches are for evidence, not recovery.
IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility conditions and prevents incorrect refund claims.
