The Government of Kerala under the aegis of the Honorable High Court of Kerala in the case of Messrs Eten Craft Holdings Private Limited (2017-VIL-576-KER) recently constituted the Authority for Advance Ruling. Further, the Kerala High Court taking note of the instructions of the Government also directed the concerned authority to accept manual filing of applications.
Concept of Advance Ruling
The concept of Advance Ruling was conceptualized by the Direct Taxes Enquiry Committee in 1971 headed by Justice K N Wanchoo. Though the system was ultimately implemented in 1993, the Authority for Advance Ruling (AAR) was instituted as a mechanism to prevent litigation, pre-empt or plan tax liability, and to foster at large a business-friendly environment where tax payers could approach the revenue authorities for ascertaining the proper legal position.
While the system of AAR was prevalent in the direct tax laws in the country, the said mechanism slowly started emerging in the indirect tax system in the country. The concept of AAR has now been grandfathered even in the GST regime, with its twists and turns.
Advance ruling in the GST regime
この記事は UNIQUE TIMES の December 2017 - January 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は UNIQUE TIMES の December 2017 - January 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Bhutan: The Enchanting Jewel Of The Himalayas
Majestic snow-capped mountains, picturesque valleys, verdant forests, centuries-old Buddhist shrines and monasteries, fluttering prayer flags, a serene way of life and folks boasting the best happiness index in the world...this Land of the Thunder Dragon has much more to entice those with wanderlust.
Bail - Emerging Trends In The Context Of Money Laundering Laws
The Hon'ble Supreme Court in case of Manish Sisodia Vs Directorate of Enforcement 2024 SCC Online 1920 has upheld certain key propositions that where a trial has not merely been delayed but has not even commenced after a long period of incarceration, the same would be violative of Article 21 of the Constitution of India.
Toyota, Maruti Suzuki Boost Hybrid Vehicle Sales in Uttar Pradesh Amid Tax Waivers, Spark Industry Debate
Toyota and Maruti Suzuki are ramping up marketing efforts for hybrid vehicles in Uttar Pradesh, leveraging new state tax waivers that offer buyers savings of up to $15,800 on luxury models like the Toyota Vellfire.
Supreme Court Rejects AAP Government's Plea to Expand NRI Quota in Punjab Medical Colleges
The Supreme Court rejected the AAP-led Punjab government's plea challenging the High Court's ruling against expanding the ‘NRI quota’ to include distant relatives for medical and dental college admissions.
USA's Delaware Supreme Court Confirms Byju's Default on $1.2-Billion Loan Amidst Ongoing Insolvency Proceedings
The Delaware Supreme Court has upheld a ruling that edtech firm Byju's defaulted on a $1.2 billion Term Loan B (TLB), validating claims made by US-based lenders.
India Approves Rs 3,300 Cr Semiconductor Packaging Plant in Gujarat, to Boost Chip Production
The Union Cabinet has approved a Rs 3,300 crore proposal from electronics manufacturer Kaynes to establish a semiconductor packaging plant in Sanand, Gujarat.
Thar Roxx: Your Perfect Off-Road Companion
To say that Mahindra knows the Indian customer really well, will be an understatement. Their biggest hits have come in various forms over the years, from the XUV500 to the XUV700 and the Scorpio N in recent times.
Exfoliate Your Way to Flawless Skin
Imagine waking up to smooth, glowing skin every day—skin that feels soft to the touch and looks naturally radiant without the need for heavy makeup or filters.
The Stinking Rose: Flavourful and Full of Health
Garlic, the humble bulb with a pungent aroma and a rich history dating back thousands of years, has earned a reputation not only in culinary delights but also as a powerhouse of health benefits.
Never give up!
In the earlier stage of your life, it was someone else who might have been gravely instrumental in shaping your viewpoints. Hence, it is supremely important to re-evaluate what you believe in, when you become an adult.
