Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
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...
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The CBIC clarified that under Ex-Works contracts, registered persons can claim input tax credit upon delivery of goods at the supplier's factory gate, without requiring physical receipt at their business premises. Section 16(2)(b) of CGST Act mandates "receipt" of goods for ITC eligibility, but does not specify location. The Explanation deems goods "received" when delivered to transporters on the registered person's direction. In automobile sector EXW contracts, where property transfers at OEM factory gates upon handover to transporters, dealers can claim ITC immediately rather than awaiting physical delivery. This principle applies to all EXW contracts where goods are delivered at supplier's premises and property transfers upon handover, subject to other Section 16 and 17 conditions.
The CBIC clarified that under Ex-Works contracts, registered persons can claim input tax credit upon delivery of goods at the supplier's factory gate, without requiring physical receipt at their business premises. Section 16(2)(b) of CGST Act mandates "receipt" of goods for ITC eligibility, but does not specify location. The Explanation deems goods "received" when delivered to transporters on the registered person's direction. In automobile sector EXW contracts, where property transfers at OEM factory gates upon handover to transporters, dealers can claim ITC immediately rather than awaiting physical delivery. This principle applies to all EXW contracts where goods are delivered at supplier's premises and property transfers upon handover, subject to other Section 16 and 17 conditions.
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