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 ...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
