Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Mobile service providers (MSPs) can claim CENVAT credit on excise duties paid on mobile towers and prefabricated buildings (PFBs) used for providing output services. Mobile towers and PFBs qualify as "capital goods" or "inputs" under the CENVAT Rules, enabling MSPs to claim credit. The Supreme Court applied the "marketability test" to determine movability, ruling that if goods can be dismantled, relocated without damage, and sold in the market, they retain mobility and qualify as movable property, not immovable. Towers and PFBs meet this test as they can be dismantled, relocated, and sold without losing their essential character. PFBs, housing BTS equipment and power backup, are accessories to antennas and BTS, which are capital goods. Therefore, towers and PFBs are "goods" and "inputs" under CENVAT Rules, allowing MSPs to claim credit on duties paid.
Mobile service providers (MSPs) can claim CENVAT credit on excise duties paid on mobile towers and prefabricated buildings (PFBs) used for providing output services. Mobile towers and PFBs qualify as "capital goods" or "inputs" under the CENVAT Rules, enabling MSPs to claim credit. The Supreme Court applied the "marketability test" to determine movability, ruling that if goods can be dismantled, relocated without damage, and sold in the market, they retain mobility and qualify as movable property, not immovable. Towers and PFBs meet this test as they can be dismantled, relocated, and sold without losing their essential character. PFBs, housing BTS equipment and power backup, are accessories to antennas and BTS, which are capital goods. Therefore, towers and PFBs are "goods" and "inputs" under CENVAT Rules, allowing MSPs to claim credit on duties paid.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
