Revenue-neutral domestic transfer pricing and mirror transactions justified deletion of related-party adjustments for operation, maintenance and port ...
Classification of goods - rate of GST - The authority ruled that outboard motor engines and spare parts supplied for use in fishing vessels fall under Customs Tariff Heading 8902, attracting a GST rate of 5% (2.5% CGST + 2.5% SGST) - The authority clarified that the supply of goods or services during the warranty period, without consideration, in discharge of the warranty obligation, is not liable to GST. Additional consideration, if received, for such supplies, will be liable to GST at the applicable rate. - Repair or maintenance services of fishing vessels, being a composite supply, were classified under SAC 998714 and subjected to GST at 5% (2.5% CGST + 2.5% SGST)
Classification of goods - rate of GST - The authority ruled that outboard motor engines and spare parts supplied for use in fishing vessels fall under Customs Tariff Heading 8902, attracting a GST rate of 5% (2.5% CGST + 2.5% SGST) - The authority clarified that the supply of goods or services during the warranty period, without consideration, in discharge of the warranty obligation, is not liable to GST. Additional consideration, if received, for such supplies, will be liable to GST at the applicable rate. - Repair or maintenance services of fishing vessels, being a composite supply, were classified under SAC 998714 and subjected to GST at 5% (2.5% CGST + 2.5% SGST)
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