Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
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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