Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Royalty payments for mining leases are consideration for licensing services to excavate and explore minerals, not sale of goods; they therefore fall under licensing services for the right to use minerals (SAC 997337) and attract GST at 9% CGST + 9% SGST (total 18%). The supply is a taxable service provided by the State to a business and tax liability arises on the recipient under the reverse charge mechanism. The service cannot be classified as supply of goods attracting a 5% rate under the transfer-of-title entry and is therefore not chargeable under that entry.
Royalty payments for mining leases are consideration for licensing services to excavate and explore minerals, not sale of goods; they therefore fall under licensing services for the right to use minerals (SAC 997337) and attract GST at 9% CGST + 9% SGST (total 18%). The supply is a taxable service provided by the State to a business and tax liability arises on the recipient under the reverse charge mechanism. The service cannot be classified as supply of goods attracting a 5% rate under the transfer-of-title entry and is therefore not chargeable under that entry.
Note: It is a system-generated summary and is for quick reference only.
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