Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
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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...
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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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