Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
The AAR determined that the applicant's residential project did not fully qualify as an "ongoing project" under the GST notification. Only towers A, B, and C were eligible for the 12% GST rate (net 8% after land deduction) with input tax credit, subject to specified conditions. Projects initiated after 01.04.2019 were ineligible for the previous tax structure, requiring developers to choose between 1% (affordable housing) or 5% (without input tax credit) tax rates. The ruling partially allowed the applicant's original tax treatment, limiting the preferential GST rate to specific towers while excluding the remaining project components.
The AAR determined that the applicant's residential project did not fully qualify as an "ongoing project" under the GST notification. Only towers A, B, and C were eligible for the 12% GST rate (net 8% after land deduction) with input tax credit, subject to specified conditions. Projects initiated after 01.04.2019 were ineligible for the previous tax structure, requiring developers to choose between 1% (affordable housing) or 5% (without input tax credit) tax rates. The ruling partially allowed the applicant's original tax treatment, limiting the preferential GST rate to specific towers while excluding the remaining project components.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
