Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
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AAR ruled that the applicant's street lighting repair and maintenance services provided to Kayamkulam Municipality qualify for GST exemption under Serial No. 3A of Notification 12/2017-Central Tax (Rate). The Municipality constitutes a local authority under Section 2(69) of CGST Act, 2017, as defined in Article 243P of the Constitution. Since the services relate to constitutional functions under Articles 243G and 243W, and goods value remains below 25% of total contract value, the supply attracts NIL rate of tax. The exemption applies to pure services or composite supplies where goods component does not exceed 25%. If exemption were inapplicable, services would fall under SAC Heading 9987 for maintenance and repair services.
AAR ruled that the applicant's street lighting repair and maintenance services provided to Kayamkulam Municipality qualify for GST exemption under Serial No. 3A of Notification 12/2017-Central Tax (Rate). The Municipality constitutes a local authority under Section 2(69) of CGST Act, 2017, as defined in Article 243P of the Constitution. Since the services relate to constitutional functions under Articles 243G and 243W, and goods value remains below 25% of total contract value, the supply attracts NIL rate of tax. The exemption applies to pure services or composite supplies where goods component does not exceed 25%. If exemption were inapplicable, services would fall under SAC Heading 9987 for maintenance and repair services.
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