Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
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Input tax credit on cement, steel and other inputs and works contract/construction services used to construct a warehouse was held to be blocked under s.17(5)(c) and s.17(5)(d) where such construction results in an immovable property. While "plant or machinery" in s.17(5)(d) is not governed by the definition of "plant and machinery" in the Explanation to s.17 and requires a functionality test based on the taxpayer's business and the building's role, the warehouse in question was not treated as qualifying "plant or machinery". Consequently, ITC was denied for goods and services used in constructing the warehouse, whether used for providing storage/warehousing services or leased to tenants. - AAR
Input tax credit on cement, steel and other inputs and works contract/construction services used to construct a warehouse was held to be blocked under s.17(5)(c) and s.17(5)(d) where such construction results in an immovable property. While "plant or machinery" in s.17(5)(d) is not governed by the definition of "plant and machinery" in the Explanation to s.17 and requires a functionality test based on the taxpayer's business and the building's role, the warehouse in question was not treated as qualifying "plant or machinery". Consequently, ITC was denied for goods and services used in constructing the warehouse, whether used for providing storage/warehousing services or leased to tenants. - AAR
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