All appeals dismissed; finding of anti-competitive bid-rigging upheld under Sections 3(3)(c), 3(3)(d) read with 3(1); cease-and-desist and total-turno...
Central Government notifies 11.541-hectare Special Economic Zone for semiconductor manufacturing; Approval Committee constituted, ICD status effective...
Government appoints National Customs Targeting Centre-Passenger director as customs officer with powers under PNR Regulations, 2022 and Sections 30A, ...
The AAR held that particulate matter permits are tradable goods, not securities, and are classifiable under HSN Heading 4907 (residuary code 4970 00 90). Applying ejusdem generis, the Authority rejected treating PM-permits as akin to bonds, stocks or debentures. The permits confer transferable economic benefits, have market value, are auctioned on the designated trading platform and may be sold for profit; accordingly proceeds constitute business income and sales are in the course or furtherance of business. Restrictions on transferability or expiry do not alter their character as goods. The applicable GST rate on trading of PM-permits is 12%.
The AAR held that particulate matter permits are tradable goods, not securities, and are classifiable under HSN Heading 4907 (residuary code 4970 00 90). Applying ejusdem generis, the Authority rejected treating PM-permits as akin to bonds, stocks or debentures. The permits confer transferable economic benefits, have market value, are auctioned on the designated trading platform and may be sold for profit; accordingly proceeds constitute business income and sales are in the course or furtherance of business. Restrictions on transferability or expiry do not alter their character as goods. The applicable GST rate on trading of PM-permits is 12%.
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