Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
This circular clarifies GST rates and classification for certain goods based on recommendations of the GST Council's 54th meeting. Key points: Extruded/expanded savoury snacks under HS 1905 90 30 attract 12% GST prospectively from 10.10.2024, previously 18%. Roof mounted air conditioning units for railways classified under HS 8415 attract 28% GST. Car seats under HS 9401 attract 28% GST prospectively from 10.10.2024, previously 18%. Motorcycle seats under HS 8714 continue attracting 28% GST. Past period tax liabilities remain unaffected for the revised rates.
This circular clarifies GST rates and classification for certain goods based on recommendations of the GST Council's 54th meeting. Key points: Extruded/expanded savoury snacks under HS 1905 90 30 attract 12% GST prospectively from 10.10.2024, previously 18%. Roof mounted air conditioning units for railways classified under HS 8415 attract 28% GST. Car seats under HS 9401 attract 28% GST prospectively from 10.10.2024, previously 18%. Motorcycle seats under HS 8714 continue attracting 28% GST. Past period tax liabilities remain unaffected for the revised rates.
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