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 ...
The deposit work undertaken by the applicant and 6% supervision charges received for supervision and monitoring of deposit work related to transmission or distribution of electricity do not qualify for exemption under Entry 25 of N/N. 12/2017-CT (R) dated 28.06.2027 issued under GST Laws, as they are ancillary/incidental to the principal supply of transmission or distribution of electricity. The applicant is entitled to ITC of GST paid to contractors on execution of said work and GST paid on materials and equipment supplied free of cost out of its stock, as it is used for furtherance of business. However, reversal of ITC is required u/s 17(2) of CGST Act read with Rule 42 and 43 of CGST Rules. The deposit contribution works (support services) undertaken by the applicant are taxable supplies at 9% rate under SAC-998631, as per Entry SI No. 25 of Notification No. 11/2017-CT dated 28.06.2017.
The deposit work undertaken by the applicant and 6% supervision charges received for supervision and monitoring of deposit work related to transmission or distribution of electricity do not qualify for exemption under Entry 25 of N/N. 12/2017-CT (R) dated 28.06.2027 issued under GST Laws, as they are ancillary/incidental to the principal supply of transmission or distribution of electricity. The applicant is entitled to ITC of GST paid to contractors on execution of said work and GST paid on materials and equipment supplied free of cost out of its stock, as it is used for furtherance of business. However, reversal of ITC is required u/s 17(2) of CGST Act read with Rule 42 and 43 of CGST Rules. The deposit contribution works (support services) undertaken by the applicant are taxable supplies at 9% rate under SAC-998631, as per Entry SI No. 25 of Notification No. 11/2017-CT dated 28.06.2017.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
