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Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
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HC ruled on GST rate applicability for works contract services. The retrospective reduction of GST rate from 18% to 12% recommended by GST Council on 5th August, 2017 was not legally binding until formal notification on 21st September, 2017. The court held that the original GST rate of 18% prescribed in the 8th July, 2017 notification remained valid for tenders submitted before the final notification date. The GST Council's recommendation alone cannot be construed as a statutory rate change, particularly considering constitutional provisions. Consequently, the petitioner's claim for retrospective rate reduction was rejected, and the petition was dismissed.
HC ruled on GST rate applicability for works contract services. The retrospective reduction of GST rate from 18% to 12% recommended by GST Council on 5th August, 2017 was not legally binding until formal notification on 21st September, 2017. The court held that the original GST rate of 18% prescribed in the 8th July, 2017 notification remained valid for tenders submitted before the final notification date. The GST Council's recommendation alone cannot be construed as a statutory rate change, particularly considering constitutional provisions. Consequently, the petitioner's claim for retrospective rate reduction was rejected, and the petition was dismissed.
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