The Delhi High Court recently accepted that the interest received on borrowed funds, which were temporarily held in interest bearing deposit, is a part of the capital cost and is required to be credited to Capital Work In Progress. The Division Bench of Acting Chief Justice Vibhu Bakhru and Justice Swarana Kanta Sharma observed that if the interest is earned …
The Gujarat High Court has ruled that the surplus drawback resulting from the utilization of the Cenvat Credit facility was repaid along with interest, and thus, the refund of Integrated Goods and Services Tax paid on goods and services for exported goods, classified as zero-rated supplies, is deemed eligible. The petitioner, ADF Foods Ltd., challenged the inaction on the part …
When it comes to higher education, one of the wisest way of funding it is by taking an educational loan. “Second, you can avail tax benefit for having an educational loan." Now, as much as availing education loan can be advantageous in many cases, Deepak Krishnan, financial planner at Mangrove Wealth, said, for any kind of loan, it makes sense …
