Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
The AAR ruled that the applicant's generation and supply of electricity from their 10.2 MW solar power plant to TANGEDCO through grid constitutes a "supply" under GST provisions. As electricity attracts nil rate of tax under HSN 27160000 (Sl. No. 104 of N/N. 02/2017-CT(Rate)), it qualifies as an "exempt supply." While ITC on goods and services used in setting up the solar plant is eligible (subject to not claiming depreciation on the tax component under Income Tax Act), the applicant cannot avail ITC on goods and services exclusively used for the generation, supply, running, or maintenance of the solar power plant as these relate to exempt supplies under Section 17(2) and 17(3) of CGST/TNGST Act read with Rule 43(1)(a).
The AAR ruled that the applicant's generation and supply of electricity from their 10.2 MW solar power plant to TANGEDCO through grid constitutes a "supply" under GST provisions. As electricity attracts nil rate of tax under HSN 27160000 (Sl. No. 104 of N/N. 02/2017-CT(Rate)), it qualifies as an "exempt supply." While ITC on goods and services used in setting up the solar plant is eligible (subject to not claiming depreciation on the tax component under Income Tax Act), the applicant cannot avail ITC on goods and services exclusively used for the generation, supply, running, or maintenance of the solar power plant as these relate to exempt supplies under Section 17(2) and 17(3) of CGST/TNGST Act read with Rule 43(1)(a).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
