Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
AAAR ruled that long-term land lease services by Port Authority to Company A for establishing a commercial office complex does not qualify for GST exemption under Entry 41 of Notification 12/2017-CT(Rate). The authority determined that constructing an office complex for corporate use and rental purposes constitutes neither industrial nor financial activity. The definition specifically excludes industrial buildings, and mere maintenance of accounts cannot be equated with financial activity. Additionally, the Port Authority failed to meet the ownership threshold requirement of 20% government stake. Consequently, the lease services for commercial office complex development remain taxable under GST, as they do not satisfy the essential conditions for exemption under the notification.
AAAR ruled that long-term land lease services by Port Authority to Company A for establishing a commercial office complex does not qualify for GST exemption under Entry 41 of Notification 12/2017-CT(Rate). The authority determined that constructing an office complex for corporate use and rental purposes constitutes neither industrial nor financial activity. The definition specifically excludes industrial buildings, and mere maintenance of accounts cannot be equated with financial activity. Additionally, the Port Authority failed to meet the ownership threshold requirement of 20% government stake. Consequently, the lease services for commercial office complex development remain taxable under GST, as they do not satisfy the essential conditions for exemption under the notification.
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