Indirect Tax Archive

Whether the omission of Rule 96(10) of the CGST Rules, 2017, without incorporation of any saving clause, would apply to pending refund proceedings, thereby entitling exporters to claim refund of IGST without being subjected to the restrictions contained in the omitted provision.

Indirect Tax 0
17
Supreme Court: M/s Goodluck India Limited & Anr. v. Union of India & Ors. Rule 96(10) of the CGST Rules imposed restrictions on IGST refunds claimed by exporters who had availed exemption benefits on imports under specified notifications. The Rule was omitted with effect from 8 October 2024, without any saving clause, giving rise …
Continue  →

Taxability and Valuation of Corporate Guarantees under GST

Indirect Tax 0
24
Gujarat High Court: Torrent Power Ltd. v. Union of India & Ors. The petitioners challenged the GST levy on intra-group corporate guarantees under Schedule I, Section 7 of the CGST Act and the valuation mechanism under Rule 28(2), particularly the mandatory 1% valuation. The Gujarat High Court held that intra-group corporate guarantees constitute a …
Continue  →

SCN under Section 74 must establish fraud, wilful misstatement or suppress

Newsletter, Indirect Tax 0
22
Supreme Court: G.R. Infra Projects Ltd. vs. The state of M.P. & Ors. The appellant contended that the SCN was barred by limitation under Section 73 and that it did not contain any specific allegations establishing fraud, wilful misstatement or suppression of facts, as required for invoking Section 74. The State sought to rely …
Continue  →