Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
The AAR addressed entitlement to input tax credit on GST paid for a contractor-built breakwater and concluded ITC is disallowed because the supply was a works contract for construction of immovable property and does not meet the statutory exception for plant and machinery. The authority applied the statutory definition of plant and machinery rather than functionality tests from other statutes, found the works contract fell under the immovable-property exclusion, and held the applicant ineligible for ITC. The AAR declined to rule on supplier-centric rate-notification applicability because the ruling would bind the applicant but not the contractor.
The AAR addressed entitlement to input tax credit on GST paid for a contractor-built breakwater and concluded ITC is disallowed because the supply was a works contract for construction of immovable property and does not meet the statutory exception for plant and machinery. The authority applied the statutory definition of plant and machinery rather than functionality tests from other statutes, found the works contract fell under the immovable-property exclusion, and held the applicant ineligible for ITC. The AAR declined to rule on supplier-centric rate-notification applicability because the ruling would bind the applicant but not the contractor.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
