Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Determining whether certain goods, specifically old used iron scrap, used lead acid batteries, old used aluminum utensils and other aluminum scrap, old used brass utensils and other scrap, used old steel utensils scrap, old used scrap of copper, used waste plastic bags and used plastic PET bottles, qualify for the margin scheme u/r 32(5) of the CGST Rules, 2017. The key points are: Notification No. 8/2018-Central Tax (Rate) does not limit the margin scheme to second-hand motor vehicles only, but it is available for all other goods that qualify as second-hand goods. The distinction between second-hand goods and scrap is crucial, with second-hand goods being ready for immediate use by a new owner, while scrap requires processing to be useful again. The goods in question are considered scrap, not second-hand goods, as they do not meet the continuity of usage requirement. Therefore, they are ineligible for the margin scheme u/r 32(5) of the CGST Rules, 2017, for both intra-state and inter-state supply of goods.
Determining whether certain goods, specifically old used iron scrap, used lead acid batteries, old used aluminum utensils and other aluminum scrap, old used brass utensils and other scrap, used old steel utensils scrap, old used scrap of copper, used waste plastic bags and used plastic PET bottles, qualify for the margin scheme u/r 32(5) of the CGST Rules, 2017. The key points are: Notification No. 8/2018-Central Tax (Rate) does not limit the margin scheme to second-hand motor vehicles only, but it is available for all other goods that qualify as second-hand goods. The distinction between second-hand goods and scrap is crucial, with second-hand goods being ready for immediate use by a new owner, while scrap requires processing to be useful again. The goods in question are considered scrap, not second-hand goods, as they do not meet the continuity of usage requirement. Therefore, they are ineligible for the margin scheme u/r 32(5) of the CGST Rules, 2017, for both intra-state and inter-state supply of goods.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
