Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The Advance Ruling Authority held that the exemption under Serial No. 77 of Notification No. 12/2017 - Central Tax (Rate) is member-specific for Resident Welfare Associations (RWAs). If an RWA collects up to Rs. 7,500 per month from a member as reimbursement of charges or contribution share, it shall not be liable to pay GST on such amount, irrespective of whether the contribution from other members exceeds Rs. 7,500 per month. The exemption applies individually to each member's contribution, not collectively to the RWA's total collections. Therefore, if an RWA registered under GST collects Rs. 7,000 from one member and Rs. 9,000 from another in the same residential complex, it shall not be liable to pay tax on the Rs. 7,000 amount.
The Advance Ruling Authority held that the exemption under Serial No. 77 of Notification No. 12/2017 - Central Tax (Rate) is member-specific for Resident Welfare Associations (RWAs). If an RWA collects up to Rs. 7,500 per month from a member as reimbursement of charges or contribution share, it shall not be liable to pay GST on such amount, irrespective of whether the contribution from other members exceeds Rs. 7,500 per month. The exemption applies individually to each member's contribution, not collectively to the RWA's total collections. Therefore, if an RWA registered under GST collects Rs. 7,000 from one member and Rs. 9,000 from another in the same residential complex, it shall not be liable to pay tax on the Rs. 7,000 amount.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
