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...
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The Appellate Authority for Advance Ruling in Gujarat addressed the issue of Input Tax Credit (ITC) admissibility for air conditioning, cooling, and ventilation systems supplied and installed by M/s. Skai Air Control P Ltd. The authority held that these systems, once installed, become part of the building and are considered immovable property. Consequently, they cease to be classified as plant and machinery. As the installation was done through a works contract service for constructing an immovable property, ITC is not available u/s 17(5)(c) of the CGST Act, 2017. The appeal was dismissed.
The Appellate Authority for Advance Ruling in Gujarat addressed the issue of Input Tax Credit (ITC) admissibility for air conditioning, cooling, and ventilation systems supplied and installed by M/s. Skai Air Control P Ltd. The authority held that these systems, once installed, become part of the building and are considered immovable property. Consequently, they cease to be classified as plant and machinery. As the installation was done through a works contract service for constructing an immovable property, ITC is not available u/s 17(5)(c) of the CGST Act, 2017. The appeal was dismissed.
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