Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Threshold limit of contribution to RWA to claim exemption from payment of GST - validity of Circular No.109/28/2019 - The plain words employed in Entry 77 being, ‘upto’ an amount of ₹ 7,500/- can thus only be interpreted to state that any contribution in excess of the same would be liable to tax - the term ‘upto’ hardly needs to be defined and connotes an upper limit. It is interchangeable with the term ‘till’ and means that any amount till the ceiling of ₹ 7,500/- would exempt for the purposes of GST. - it is only contributions to RWA in excess of ₹ 7,500/- that would be taxable under GST Act. - HC
Threshold limit of contribution to RWA to claim exemption from payment of GST - validity of Circular No.109/28/2019 - The plain words employed in Entry 77 being, ‘upto’ an amount of ₹ 7,500/- can thus only be interpreted to state that any contribution in excess of the same would be liable to tax - the term ‘upto’ hardly needs to be defined and connotes an upper limit. It is interchangeable with the term ‘till’ and means that any amount till the ceiling of ₹ 7,500/- would exempt for the purposes of GST. - it is only contributions to RWA in excess of ₹ 7,500/- that would be taxable under GST Act. - HC
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