Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Clarification provided on time of supply of services for spectrum usage and other similar services under GST. For spectrum allocation, where telecom operator opts for deferred payment, it constitutes continuous supply of services as defined u/s 2(33) of WBGST Act. Time of supply governed by section 13(3) of WBGST Act, being earlier of payment date or 60 days from document issue date. Frequency Assignment Letter not considered invoice for 60-day period calculation. Invoice required on or before due date per section 31(5)(a). For upfront payment, GST payable when payment made or due, whichever earlier. For deferred instalments, GST payable as instalments due or paid, whichever earlier. Similar treatment for other natural resource allocations constituting continuous supply.
Clarification provided on time of supply of services for spectrum usage and other similar services under GST. For spectrum allocation, where telecom operator opts for deferred payment, it constitutes continuous supply of services as defined u/s 2(33) of WBGST Act. Time of supply governed by section 13(3) of WBGST Act, being earlier of payment date or 60 days from document issue date. Frequency Assignment Letter not considered invoice for 60-day period calculation. Invoice required on or before due date per section 31(5)(a). For upfront payment, GST payable when payment made or due, whichever earlier. For deferred instalments, GST payable as instalments due or paid, whichever earlier. Similar treatment for other natural resource allocations constituting continuous supply.
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