Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
AAR held that the applicant's activity of providing self-drive passenger vehicles (without driver) on rent is classifiable under Heading 9973 as "leasing or rental services without operator," specifically under residual Service Code 997329 concerning other goods. It does not qualify as "transfer of the right to use goods" under Entry 17(iii) of Notif. No. 11/2017-CT (Rate) as the lessee does not obtain exclusive possession and effective control; the owner retains significant control through GPS tracking, contractual restrictions, and right to intervene. Consequently, Entry 17(iii) is inapplicable. AAR ruled that the service is covered by Entry 17(viia) (leasing or renting of goods) and not by residual Entry 17(viii). The applicable GST rate is that leviable on the supply of like goods.
AAR held that the applicant's activity of providing self-drive passenger vehicles (without driver) on rent is classifiable under Heading 9973 as "leasing or rental services without operator," specifically under residual Service Code 997329 concerning other goods. It does not qualify as "transfer of the right to use goods" under Entry 17(iii) of Notif. No. 11/2017-CT (Rate) as the lessee does not obtain exclusive possession and effective control; the owner retains significant control through GPS tracking, contractual restrictions, and right to intervene. Consequently, Entry 17(iii) is inapplicable. AAR ruled that the service is covered by Entry 17(viia) (leasing or renting of goods) and not by residual Entry 17(viii). The applicable GST rate is that leviable on the supply of like goods.
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