Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
The turnkey contract entered by the applicant with PGVCL is a works contract as defined u/s 2(119), involving a composite supply for installation, testing, and commissioning of 11 KV medium voltage covered conductor (MVCC) with accessories. The contract is not divisible, despite constituting two interconnected and interdependent parts. GST is payable on the advance received by the applicant for the turnkey contract, as per Section 12(2)(a) of the CGST Act, 2017. The benefit of Notification No. 66/2017-CT is not applicable to this turnkey contract, which is treated as a supply of service under Schedule II.
The turnkey contract entered by the applicant with PGVCL is a works contract as defined u/s 2(119), involving a composite supply for installation, testing, and commissioning of 11 KV medium voltage covered conductor (MVCC) with accessories. The contract is not divisible, despite constituting two interconnected and interdependent parts. GST is payable on the advance received by the applicant for the turnkey contract, as per Section 12(2)(a) of the CGST Act, 2017. The benefit of Notification No. 66/2017-CT is not applicable to this turnkey contract, which is treated as a supply of service under Schedule II.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
