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- Whether the GST margin money scheme can be adopted for antique second-hand goods ?
Whether the GST margin money scheme can be adopted for antique second-hand goods ?
Issue Favourable to Tax Payer ?:- no
Held - There is nothing in rule 32 (5) which says that it is not applicable to valuable or precious objects or objects having antique value. It is a settled principle of jurisprudence that when the words of a statute are unambiguous and only one reasonable meaning can be given to it, then the courts are bound to give effect to that meaning. Such words have to be interpreted in their natural and ordinary sense. Therefore, the term ‘second-han.....
Issue Favourable to Tax Payer ?:- no
Held - Chapter IV of the CGST Rules, 2017 deals with the determination of value of supply and Rule 32(5) specificity deals value of taxable supply when the same is provided by a person dealing in used/second hand goods.
A reading of the said rule clearly states that in the subject case the value for tax purposes will be the difference between the selling price and the purchase price in case the selling price is more than the purchase pri.....
- Whether reimbursement of expenses is leviable to GST?
- Whether input tax credit is admissible if invoice/debit note does not appear in Form GSTR-2A/2B or tax is not paid by supplier ?
- Whether marketing and sales promotion services to customers located outside India is intermediary or export of services ?
- Whether order / show cause notice is valid if passed without pre-show cause notice consultation or GST DRC-01 (summary SCN) or GST DRC-01A (tax intimation notice) ?
- Whether recovery proceedings can be initiated if assessee is willing to file an appeal ?
- Whether input tax credit can be transferred to the transferee entity in case of an inter-state business transfer ?
- Whether interest is payable for the period during which the reply to the deficiency memo remains pending ?
- Whether combined show cause notice can be issued covering multiple financial years ?
- Whether tax can be recovered by Department without prior intimation in Form DRC-01D ?
- Whether a penalty equal to 200% of the tax amount can be demanded in case of detention or seizure of goods ?
