Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The AAAR held that for construction services, the time of supply for GST purposes is the date of receipt of mobilization advance, being the earliest of the date of issue of invoice or receipt of payment. The mobilization advance constitutes payment and consideration, despite appellant's contention that it is merely a transaction in money. The notification No. 66/2017-CT (Rate) is inapplicable as the supply pertains to services. Consequently, the appeal by M/s S.P. Singla Constructions P Ltd. was rejected.
The AAAR held that for construction services, the time of supply for GST purposes is the date of receipt of mobilization advance, being the earliest of the date of issue of invoice or receipt of payment. The mobilization advance constitutes payment and consideration, despite appellant's contention that it is merely a transaction in money. The notification No. 66/2017-CT (Rate) is inapplicable as the supply pertains to services. Consequently, the appeal by M/s S.P. Singla Constructions P Ltd. was rejected.
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