Indirect Tax Digest | 16 August 2024
Indirect Tax Digest | 16 August 2024
Read more about Indirect Tax Legislative and Judicial updates and Customs and Foreign Trade Policy in ‘The Indirect Tax Fortnightly Digest’ by BDO in India.
HIGHLIGHTS
- Gauhati High Court - Input Tax Credit (ITC) cannot be denied to bona fide purchasers due to seller’s failure to deposit tax.
- Authority for Advance Ruling, Maharashtra - Penalties, late fees, penal interest and fines collected by Reserve Bank of India for contravention of law or non-performance/under-performance are not leviable to GST.
- Kerala High Court - Common portal can be used for issuance of assessment orders.
- Authority for Advance Ruling, Tamil Nadu - Transfer of title of goods stored in FTWZ units to the customers situated in Domestic Tariff Area is covered in Para 8(a) of Schedule III to the CGST Act.
We hope you find it useful and an interesting read.
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