Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
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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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