Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
The Karnataka Commercial Taxes Dept. issued Circular No. GST-38/2024 clarifying multiple GST rate and classification issues based on the 55th GST Council meeting recommendations. Key clarifications include: (1) pepper of genus Piper attracts 5% GST, and agriculturists supplying dried pepper are GST-exempt; (2) agriculturists supplying raisins are GST-exempt; (3) ready-to-eat popcorn with salt/spices attracts 5-12% GST depending on packaging; (4) autoclaved aerated concrete blocks with >50% fly ash content fall under HS 6815; and (5) amended compensation cess for utility vehicles applies from 26.7.2023, with specific criteria for engine capacity, length, and ground clearance.
The Karnataka Commercial Taxes Dept. issued Circular No. GST-38/2024 clarifying multiple GST rate and classification issues based on the 55th GST Council meeting recommendations. Key clarifications include: (1) pepper of genus Piper attracts 5% GST, and agriculturists supplying dried pepper are GST-exempt; (2) agriculturists supplying raisins are GST-exempt; (3) ready-to-eat popcorn with salt/spices attracts 5-12% GST depending on packaging; (4) autoclaved aerated concrete blocks with >50% fly ash content fall under HS 6815; and (5) amended compensation cess for utility vehicles applies from 26.7.2023, with specific criteria for engine capacity, length, and ground clearance.
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