Restaurant business transfers qualify for GST exemption as going concerns when operations can continue independently despite retained past liabilities...
Voluntary customs statements and seizure evidence support penalties for attempted export of red sanders where alleged retractions remain unsubstantiat...
Interest charged independently of brokerage for financing securities purchases under a Margin Trading Facility is exempt from GST as consideration for extending loans or advances. The broker funds purchases beyond the client's available margin, and the funded amount is repayable with interest for the period outstanding. Although activities involving the use of money for separate consideration constitute services under the CGST Act, the exemption for lending services applies to the extent that consideration is represented by interest or discount.
Interest charged independently of brokerage for financing securities purchases under a Margin Trading Facility is exempt from GST as consideration for extending loans or advances. The broker funds purchases beyond the client's available margin, and the funded amount is repayable with interest for the period outstanding. Although activities involving the use of money for separate consideration constitute services under the CGST Act, the exemption for lending services applies to the extent that consideration is represented by interest or discount.
Note: It is a system-generated summary and is for quick reference only.
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