Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
The note treats a non compete fee for agreeing to refrain from competing as a taxable 'supply of services' under Schedule II(5)(e) and Section 9(1) CGST; where the supplier is in India and the recipient is located abroad, payment is in foreign exchange and the establishments are not merely distinct persons, the transaction meets the five conditions of export under Section 2(6) IGST and qualifies as export of services and zero rated. The authority records that 98.57% of the fee is export (zero rated) while 1.43% remains taxable as inter state or intra state supply; IGST or CGST+state GST may apply as appropriate.
The note treats a non compete fee for agreeing to refrain from competing as a taxable 'supply of services' under Schedule II(5)(e) and Section 9(1) CGST; where the supplier is in India and the recipient is located abroad, payment is in foreign exchange and the establishments are not merely distinct persons, the transaction meets the five conditions of export under Section 2(6) IGST and qualifies as export of services and zero rated. The authority records that 98.57% of the fee is export (zero rated) while 1.43% remains taxable as inter state or intra state supply; IGST or CGST+state GST may apply as appropriate.
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