Introduction The GST framework is often described as a system that allows credit to move seamlessly across transactions, with each participant in the supply chain passing on tax in a continuous flow. In practice, this depends on a basic assumption: that each link in the chain performs its part as expected. That assumption begins to…
Introduction The Nagpur Bench of the Bombay High Court in Writ Petition No. 1257 of 2026, dated 27 February 2026, in the case of M/s. Hindustan Equipment Craft v. Assistant Commissioner of State Tax & Ors., held that the assignment of long-term leasehold rights in an industrial plot is essentially a transfer of benefits arising…
Introduction The Goods and Services Tax (GST) regime in India incorporates Section 171 of the Central Goods and Services Tax (CGST) Act, 2017, which mandates that any reduction in the tax rate or the benefit of Input Tax Credit must be passed on to the recipient by way of a commensurate reduction in prices. Organizations…
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