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...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
The Advance Ruling Authority (ARA) addressed the interpretation of the expression "parts of goods of headings 8901, 8902, 8904, 8905, 8906, 8907" in specific notifications. The key issue was whether the goods/spares used were parts of warships/submarines. The ARA held that essential components like engines, gearbox, propeller, etc., are integral parts of a ship/vessel based on definitions of "part." Goods qualifying as parts of specific headings attract GST under the relevant notification. Items listed in Annexure 2A were deemed essential parts of a warship/submarine and subject to specific GST rates, while others in different annexures were not covered under the said notification.
The Advance Ruling Authority (ARA) addressed the interpretation of the expression "parts of goods of headings 8901, 8902, 8904, 8905, 8906, 8907" in specific notifications. The key issue was whether the goods/spares used were parts of warships/submarines. The ARA held that essential components like engines, gearbox, propeller, etc., are integral parts of a ship/vessel based on definitions of "part." Goods qualifying as parts of specific headings attract GST under the relevant notification. Items listed in Annexure 2A were deemed essential parts of a warship/submarine and subject to specific GST rates, while others in different annexures were not covered under the said notification.
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