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...
AAR held that proportionate refund received by the applicant upon cancellation of a pre-GST lease agreement is not taxable under GST. While property leasing constitutes supply of service, lease cancellation itself does not constitute taxable activity under CGST Act. Relying on CBIC Circular No. 178/10/2022-GST regarding coal block cancellation compensation, AAR determined that refund for unexpired lease period does not involve any supply of service as defined under Section 7 of CGST Act, 2017. The transaction merely constitutes return of consideration for unutilized period rather than agreement to perform, refrain from, or tolerate any act, thus falling outside GST liability.
AAR held that proportionate refund received by the applicant upon cancellation of a pre-GST lease agreement is not taxable under GST. While property leasing constitutes supply of service, lease cancellation itself does not constitute taxable activity under CGST Act. Relying on CBIC Circular No. 178/10/2022-GST regarding coal block cancellation compensation, AAR determined that refund for unexpired lease period does not involve any supply of service as defined under Section 7 of CGST Act, 2017. The transaction merely constitutes return of consideration for unutilized period rather than agreement to perform, refrain from, or tolerate any act, thus falling outside GST liability.
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