Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Section 17(5)(d) of the CGST Act denies Input Tax Credit for goods or services received for construction of an immovable property on one's own account, excluding plant and machinery; the provision's phrase "including when such goods or services or both are used in the course or furtherance of business" is interpreted to extend the block to constructions intended for lease. Applying that principle, costs of construction materials, fixtures and related services used to build a commercial property for letting are ineligible for ITC and the applicant cannot claim credit on those inputs.
Section 17(5)(d) of the CGST Act denies Input Tax Credit for goods or services received for construction of an immovable property on one's own account, excluding plant and machinery; the provision's phrase "including when such goods or services or both are used in the course or furtherance of business" is interpreted to extend the block to constructions intended for lease. Applying that principle, costs of construction materials, fixtures and related services used to build a commercial property for letting are ineligible for ITC and the applicant cannot claim credit on those inputs.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
