Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
GST is applicable on mining lease payments, including royalty, payable to the Government of Rajasthan under reverse charge mechanism (RCM) at 18% (9% CGST and 9% SGST). The applicant is liable to pay GST on upfront payments made as per tender conditions before issuing Letter of Intent (LOI) and after issuing LOI but before entering into the lease agreement, under RCM. The applicant can claim input tax credit (ITC) of GST paid under RCM, subject to conditions u/s 16 of CGST Act, 2017. The applicant needs to obtain GST registration in Rajasthan for paying GST.
GST is applicable on mining lease payments, including royalty, payable to the Government of Rajasthan under reverse charge mechanism (RCM) at 18% (9% CGST and 9% SGST). The applicant is liable to pay GST on upfront payments made as per tender conditions before issuing Letter of Intent (LOI) and after issuing LOI but before entering into the lease agreement, under RCM. The applicant can claim input tax credit (ITC) of GST paid under RCM, subject to conditions u/s 16 of CGST Act, 2017. The applicant needs to obtain GST registration in Rajasthan for paying GST.
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