Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
The case pertains to the admissibility of Input Tax Credit (ITC) on the 'Rotary Parking System' falling under HSN code 8428 and the blocking of credit u/s 17(5) of the CGST/TNGST Act, 2017. The appellant renders 'Renting of Immovable Property Service' and proposes to install a 'Rotary Car Parking System' within the premises, not inside the building, to provide parking facilities to tenants and customers. The exclusion clause 'other than plant and machinery' in Section 17(5)(c) and (d) conveys that ITC on 'plant and machinery' is not blocked, but the 'Rotary Parking System' is considered a 'civil structure' excluded from the definition of 'plant and machinery'. The service of 'Renting of Immovable Property' includes common areas and facilities, making the 'Rotary Parking System' part of the immovable property being rented out. Therefore, the input tax credit on the purchase of the 'Rotary Parking System' becomes ineligible u/s 17(5)(d) of the CGST/TNGST Acts, 2017, as it amounts to construction of an immovable property.
The case pertains to the admissibility of Input Tax Credit (ITC) on the 'Rotary Parking System' falling under HSN code 8428 and the blocking of credit u/s 17(5) of the CGST/TNGST Act, 2017. The appellant renders 'Renting of Immovable Property Service' and proposes to install a 'Rotary Car Parking System' within the premises, not inside the building, to provide parking facilities to tenants and customers. The exclusion clause 'other than plant and machinery' in Section 17(5)(c) and (d) conveys that ITC on 'plant and machinery' is not blocked, but the 'Rotary Parking System' is considered a 'civil structure' excluded from the definition of 'plant and machinery'. The service of 'Renting of Immovable Property' includes common areas and facilities, making the 'Rotary Parking System' part of the immovable property being rented out. Therefore, the input tax credit on the purchase of the 'Rotary Parking System' becomes ineligible u/s 17(5)(d) of the CGST/TNGST Acts, 2017, as it amounts to construction of an immovable property.
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