Saturday, 17 March 2018

Erstwhile exempted units move HC against unavailability of transitional credit of capital goods

Uttarakhand HC hears petitioners’ challenge to unavailability of transitional credit of capital goods u/s 140 of CGST Act, 2017 to units who were availing area based exemption under erstwhile regime; HC posts the matter for hearing on April 17 

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Section 56(2)(ix): Forfeiture of Advance Money Received – A Critical Analysis

The Dual Conditions for Taxability Section 56(2)(ix) of the Income Tax Act imposes tax liability on sums received as advance or otherwise du...