Delhi HC begins final
hearing on the question of constitutionality of Section 140(3)(iv) of CGST Act
which limits transitional credit on goods in stock, to a period of 1 year;
As per the petitioners, since credit is not allowed of stock prior to June 30,
2016, the conditions stipulated under said section r/w Rule 117(4)(a)(iv) of
CGST Rules are arbitrary, unreasonable and in violation of Articles 14 and
19(1)(g) of Constitution; Advocate Tarun Gulati explains to the Court how
assessees having valid documents are placed at a disadvantage vis-a-vis those
who do not have invoices and still get reduced credit on account of proviso to
Section 140(3); HC lists the matter for further hearing on May 1.
Subscribe to:
Post Comments (Atom)
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Introduction: ADR’S, GDR’S: These are commonly known as Depository Receipts (‘DR’), a negotiable security issued outside India by a deposi...
-
In the case of "Maya Gopinathan vs Anoop SB 2024 INSC 334," the Hon'ble Supreme Court provided insightful guidance on the de...
-
Particulars in Part 1 and Part 2 of Step-2 of registration form are required to be exactly the same as reported in the TDS statement. Plea...
-
An eminent concern within the GST framework pertains to the entitlement of Input Tax Credit (ITC) concerning expenditures associated with In...
-
In Standard Castings Private Limited v. ITO , the Hon’ble ITAT Delhi allowed the assessee’s appeal and set aside a demand that had continu...
-
Introduction Employee welfare is a cornerstone of corporate responsibility, and gratuity forms a critical part of the social security benefi...
-
The Approving Panel under General Anti-Avoidance Rules (GAAR), in a landmark direction, has characterized the demerger of Digital, Media a...
-
Key Notes: Transfer pricing relates to the pricing of transactions (such as transfer of goods, services, intangibles and funds) that t...
-
Section 68 -Cash credits Section 69 -Unexplained investments Section 69A - Unexplained money, etc Section 69B -Amount of investme...
No comments:
Post a Comment