Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
The Appellate Authority for Advance Ruling (AAAR) rejected the classification under SAC Heading 9986 (support services to oil and gas extraction) and SAC Heading 9983 (other professional, technical, and business services relating to exploration, mining, or drilling of petroleum crude or natural gas) as proposed by the Appellant. Instead, it was held that the services provided under the EPC contract fall under SAC Heading 9954, related to construction services, and are thus taxable at 18%. The reasoning was based on the nature of the contract which encompasses comprehensive activities including surveying, designing, installation, commissioning, and handing over of a functional project, indicating the creation of an immovable property, characteristic of construction services. - Given the classification under SAC Heading 9954, the services are subject to GST at 18%.
The Appellate Authority for Advance Ruling (AAAR) rejected the classification under SAC Heading 9986 (support services to oil and gas extraction) and SAC Heading 9983 (other professional, technical, and business services relating to exploration, mining, or drilling of petroleum crude or natural gas) as proposed by the Appellant. Instead, it was held that the services provided under the EPC contract fall under SAC Heading 9954, related to construction services, and are thus taxable at 18%. The reasoning was based on the nature of the contract which encompasses comprehensive activities including surveying, designing, installation, commissioning, and handing over of a functional project, indicating the creation of an immovable property, characteristic of construction services. - Given the classification under SAC Heading 9954, the services are subject to GST at 18%.
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