Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
This trade circular provides clarifications regarding the applicability of GST on certain services based on the recommendations of the 53rd GST Council meeting. The key points are: GST exemption for services provided by the Ministry of Railways to the general public and between its zones/divisions, regularizing past GST liability. Exemption for services between Special Purpose Vehicles and the Ministry of Railways, regularizing past liability. Statutory collections by Real Estate Regulatory Authority are exempt under an existing notification. Incentives shared by acquiring banks with stakeholders under a digital payment promotion scheme are treated as subsidies and non-taxable up to the proportion decided by NPCI. Reinsurance of specified general and life insurance schemes exempt from GST is regularized for past periods. Reinsurance of government-sponsored insurance schemes with premium paid by the government is regularized for past periods. 'Reinsurance' includes 'retrocession' services. Accommodation services with value up to Rs. 20,000 per person per month for a minimum 90-day period are exempt prospectively and regularized for past periods meeting the criteria.
This trade circular provides clarifications regarding the applicability of GST on certain services based on the recommendations of the 53rd GST Council meeting. The key points are: GST exemption for services provided by the Ministry of Railways to the general public and between its zones/divisions, regularizing past GST liability. Exemption for services between Special Purpose Vehicles and the Ministry of Railways, regularizing past liability. Statutory collections by Real Estate Regulatory Authority are exempt under an existing notification. Incentives shared by acquiring banks with stakeholders under a digital payment promotion scheme are treated as subsidies and non-taxable up to the proportion decided by NPCI. Reinsurance of specified general and life insurance schemes exempt from GST is regularized for past periods. Reinsurance of government-sponsored insurance schemes with premium paid by the government is regularized for past periods. 'Reinsurance' includes 'retrocession' services. Accommodation services with value up to Rs. 20,000 per person per month for a minimum 90-day period are exempt prospectively and regularized for past periods meeting the criteria.
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