Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
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AAR analyzed the issue of GST levy on sewerage water treated by GVSCCL and supplied to industries. Water falls under Chapter heading 2201 of GST Tariff. Two schedule entries exist for water under CGST Act: one exempting drinking water at 12% tax and another taxing waters not containing sugar at 18%. The treated water supplied by applicant is not potable, thus not covered under entry for drinking water. The treated water qualifies as purified water, taxed at NIL rate under Notification No. 02/2017-C.T. (R).
AAR analyzed the issue of GST levy on sewerage water treated by GVSCCL and supplied to industries. Water falls under Chapter heading 2201 of GST Tariff. Two schedule entries exist for water under CGST Act: one exempting drinking water at 12% tax and another taxing waters not containing sugar at 18%. The treated water supplied by applicant is not potable, thus not covered under entry for drinking water. The treated water qualifies as purified water, taxed at NIL rate under Notification No. 02/2017-C.T. (R).
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