Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
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...
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The AAR determined that the developer-promoter's transaction involving undivided share of land and constructed residential units does not qualify as a "sale of land" under Item No. 5 of Schedule III of CGST Act. The Joint Development Agreement and subsequent sale of apartments attract GST liability. Despite the applicant's contention that the composite value represents land sale and should be exempt, the ruling clarifies that the transaction involves supply of service and goods, rendering GST applicable. The applicant must pay GST on the transaction value, with a permissible one-third deduction for land value, particularly for transactions executed before the completion certificate or first occupation of residential units.
The AAR determined that the developer-promoter's transaction involving undivided share of land and constructed residential units does not qualify as a "sale of land" under Item No. 5 of Schedule III of CGST Act. The Joint Development Agreement and subsequent sale of apartments attract GST liability. Despite the applicant's contention that the composite value represents land sale and should be exempt, the ruling clarifies that the transaction involves supply of service and goods, rendering GST applicable. The applicant must pay GST on the transaction value, with a permissible one-third deduction for land value, particularly for transactions executed before the completion certificate or first occupation of residential units.
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