Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
This notification amends Serial No. 8 of Notification No. 11/2017-Central Tax (Rate). It inserts a new item (ivb) under Serial No. 8, levying 2.5% CGST on "Transportation of passengers, with or without accompanied baggage, by air, in a helicopter on seat share basis", with the condition that input tax credit on goods used for supplying this service is not availed. Item (vii) under Serial No. 8 is also amended to include reference to the newly inserted item (ivb). The amendment comes into force from 10th October 2024.
This notification amends Serial No. 8 of Notification No. 11/2017-Central Tax (Rate). It inserts a new item (ivb) under Serial No. 8, levying 2.5% CGST on "Transportation of passengers, with or without accompanied baggage, by air, in a helicopter on seat share basis", with the condition that input tax credit on goods used for supplying this service is not availed. Item (vii) under Serial No. 8 is also amended to include reference to the newly inserted item (ivb). The amendment comes into force from 10th October 2024.
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