Minimum Public Offer Requirements set tiered issuer-based allotment minima with mandatory staged public shareholding increases and exchange enforcemen...
Disallowance under tax law for investment expenses cannot be applied mechanically; authority must record clear reasons before increasing assessee's su...
Transfer of MHADA-reserved flats after the occupancy certificate was held taxable as works contract service, not a GST-exempt sale of immovable property. The post-completion exclusion did not apply because the applicant had undertaken a binding pre-approval obligation to construct and transfer the earmarked flats, and received additional FSI as non-monetary consideration in return. Since GST consideration includes non-cash benefits, the supply was not wholly post-occupancy and remained within Schedule II. For valuation, the Authority held that the price paid by MHADA allottees was not the sole consideration and that the MHADA-administered rate was not open market value. GST value had to be based on comparable flats sold to non-MHADA buyers in the same project.
Transfer of MHADA-reserved flats after the occupancy certificate was held taxable as works contract service, not a GST-exempt sale of immovable property. The post-completion exclusion did not apply because the applicant had undertaken a binding pre-approval obligation to construct and transfer the earmarked flats, and received additional FSI as non-monetary consideration in return. Since GST consideration includes non-cash benefits, the supply was not wholly post-occupancy and remained within Schedule II. For valuation, the Authority held that the price paid by MHADA allottees was not the sole consideration and that the MHADA-administered rate was not open market value. GST value had to be based on comparable flats sold to non-MHADA buyers in the same project.
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