Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
The AAR ruled on classification of hand-held multitools designed for battery replacement in vehicles. The tools primarily consist of integrated spanners with additional components like screwdrivers, hex keys, and battery voltage indicators showing charge levels (25%, 50%, 75%, 100%). While the tools incorporate electrical components (battery indicators) under Chapter 85, their primary function remains mechanical battery replacement. The Authority determined that since spanners constitute the major component, the multitools should be classified under Chapter Heading 8204 despite having integrated electrical features. The additional battery indicator functionality does not alter the tool's core purpose. Consequently, these multitools attract GST at 18% rate under Chapter Heading 8204.
The AAR ruled on classification of hand-held multitools designed for battery replacement in vehicles. The tools primarily consist of integrated spanners with additional components like screwdrivers, hex keys, and battery voltage indicators showing charge levels (25%, 50%, 75%, 100%). While the tools incorporate electrical components (battery indicators) under Chapter 85, their primary function remains mechanical battery replacement. The Authority determined that since spanners constitute the major component, the multitools should be classified under Chapter Heading 8204 despite having integrated electrical features. The additional battery indicator functionality does not alter the tool's core purpose. Consequently, these multitools attract GST at 18% rate under Chapter Heading 8204.
Note: It is a system-generated summary and is for quick reference only.
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