Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
The key points are: The applicant (THDCIL) does not qualify as a "Government Entity" under GST laws as it fails to meet the criteria of having 90% or more equity or control by the government. Although initially established with 100% government equity, currently the government's stake is only 25.504% due to equity dilution. Consequently, THDCIL cannot avail the GST exemption on legal services received under the reverse charge mechanism, which is available only to "Government Entities" as per the relevant GST notifications. The Advance Ruling Authority has ruled that THDCIL does not satisfy the definition of a "Government Entity" for GST purposes due to insufficient government equity participation.
The key points are: The applicant (THDCIL) does not qualify as a "Government Entity" under GST laws as it fails to meet the criteria of having 90% or more equity or control by the government. Although initially established with 100% government equity, currently the government's stake is only 25.504% due to equity dilution. Consequently, THDCIL cannot avail the GST exemption on legal services received under the reverse charge mechanism, which is available only to "Government Entities" as per the relevant GST notifications. The Advance Ruling Authority has ruled that THDCIL does not satisfy the definition of a "Government Entity" for GST purposes due to insufficient government equity participation.
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