Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
The AAR held that the applicant's transaction constitutes a composite "works contract" under s.2(119) CGST, permitting ITC only on the structural steel/plant-and-machinery component as delineated in the contract Cost Abstract/Bill of Quantities, and not on civil or sheeting components. Cranes and HVAC were characterised as plant and machinery, supporting the secondary steel's eligibility. Concerning advances, the AAR ruled that time-of-supply principles in s.13(2) render receipt of advance as deemed receipt, and therefore ITC on supplier invoices for advance payments may be availed subject to the temporal limitation in s.16(4) - i.e., before 30 November following the FY or on filing the annual return, whichever is earlier.
The AAR held that the applicant's transaction constitutes a composite "works contract" under s.2(119) CGST, permitting ITC only on the structural steel/plant-and-machinery component as delineated in the contract Cost Abstract/Bill of Quantities, and not on civil or sheeting components. Cranes and HVAC were characterised as plant and machinery, supporting the secondary steel's eligibility. Concerning advances, the AAR ruled that time-of-supply principles in s.13(2) render receipt of advance as deemed receipt, and therefore ITC on supplier invoices for advance payments may be availed subject to the temporal limitation in s.16(4) - i.e., before 30 November following the FY or on filing the annual return, whichever is earlier.
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