Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
The AAR ruled that Input Tax Credit (ITC) is available to the applicant for GST charged on food and beverages provided through mandatory canteen facilities under the Factories Act, 1948, read with Gujarat Factories Rules, 1963. This eligibility applies specifically to canteen services for factory employees where such provision is obligatory under law. However, the ITC is limited strictly to the portion of the cost borne by the applicant company, excluding any contribution made by employees. This ruling creates a specific exception to the general restriction on ITC for food and beverages by recognizing the statutory obligation to provide canteen facilities.
The AAR ruled that Input Tax Credit (ITC) is available to the applicant for GST charged on food and beverages provided through mandatory canteen facilities under the Factories Act, 1948, read with Gujarat Factories Rules, 1963. This eligibility applies specifically to canteen services for factory employees where such provision is obligatory under law. However, the ITC is limited strictly to the portion of the cost borne by the applicant company, excluding any contribution made by employees. This ruling creates a specific exception to the general restriction on ITC for food and beverages by recognizing the statutory obligation to provide canteen facilities.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
