Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Entry 23A of Notification No. 12/2017 exempts services of providing access to a road or bridge against annuity under Heading 9967; it does not exempt road construction, design, operation and maintenance supplied as works-contract services under Heading 9954. Deferred annuity payments under a road concession agreement may therefore constitute taxable consideration where they represent the unpaid balance of project costs. Clarificatory circulars may state the applicable statutory position and guide implementation. Taxability depends on the notification and the actual nature of the supply, while an earlier advance ruling based on an erroneous understanding does not bind implementing authorities after legal clarification.
Entry 23A of Notification No. 12/2017 exempts services of providing access to a road or bridge against annuity under Heading 9967; it does not exempt road construction, design, operation and maintenance supplied as works-contract services under Heading 9954. Deferred annuity payments under a road concession agreement may therefore constitute taxable consideration where they represent the unpaid balance of project costs. Clarificatory circulars may state the applicable statutory position and guide implementation. Taxability depends on the notification and the actual nature of the supply, while an earlier advance ruling based on an erroneous understanding does not bind implementing authorities after legal clarification.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
