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 ...
Classification of services - activity of insulating of bare M.S. Pipes provided by the customers on job work basis by using PU Foam and PE Film/HDPE jackets owned by the applicant - The AAR confirmed that the process undertaken by the applicant qualifies as manufacturing under Section 2(72) of the CGST Act, 2017 - The AAR observed that since the inputs were owned by the applicant and not the customer, the AAR ruled that the services are correctly classified under Sr. No. 27 of heading 9989 of the notification, attracting a GST of 18%. - The AAR further discussed the definition of job work in the context of GST, affirming that while the applicant's activities met the broader definition of job work, the specific conditions of Sr. No. 26 (pertaining to goods owned by another registered person) were not met due to the ownership status of the inputs.
Classification of services - activity of insulating of bare M.S. Pipes provided by the customers on job work basis by using PU Foam and PE Film/HDPE jackets owned by the applicant - The AAR confirmed that the process undertaken by the applicant qualifies as manufacturing under Section 2(72) of the CGST Act, 2017 - The AAR observed that since the inputs were owned by the applicant and not the customer, the AAR ruled that the services are correctly classified under Sr. No. 27 of heading 9989 of the notification, attracting a GST of 18%. - The AAR further discussed the definition of job work in the context of GST, affirming that while the applicant's activities met the broader definition of job work, the specific conditions of Sr. No. 26 (pertaining to goods owned by another registered person) were not met due to the ownership status of the inputs.
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