Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
Under Hybrid Annuity Mode (HAM) for National Highway Projects, concessionaire constructs new road and provides Operation & Maintenance over 15-17 years with payment staggered over years. HAM contract is single contract for construction and O&M, cannot be split into separate contracts. Payment is continuous supply of services u/s 2(33). Time of supply is date of invoice or receipt of payment, whichever is earlier, if invoice issued within prescribed period u/s 31(5). If invoice not issued within prescribed period, time of supply is date of provision of service or receipt of payment, whichever is earlier, with date of provision deemed as due date of payment. Tax liability arises at time of invoice or receipt of payment, whichever is earlier. Interest component in annuity/instalment is includible in taxable value u/s 15(2)(d).
Under Hybrid Annuity Mode (HAM) for National Highway Projects, concessionaire constructs new road and provides Operation & Maintenance over 15-17 years with payment staggered over years. HAM contract is single contract for construction and O&M, cannot be split into separate contracts. Payment is continuous supply of services u/s 2(33). Time of supply is date of invoice or receipt of payment, whichever is earlier, if invoice issued within prescribed period u/s 31(5). If invoice not issued within prescribed period, time of supply is date of provision of service or receipt of payment, whichever is earlier, with date of provision deemed as due date of payment. Tax liability arises at time of invoice or receipt of payment, whichever is earlier. Interest component in annuity/instalment is includible in taxable value u/s 15(2)(d).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
