Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
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The article addresses whether corpus/sinking fund contributions collected by a residential association constitute "consideration" and attract GST. It applies the statutory definitions of supply and consideration, rejects the doctrine of mutuality by operation of the deeming provision, and treats the association as a person distinct from members. Corpus contributions are characterised as advances for future supply of membership-organisation services and are distinct from recurring monthly maintenance by purpose and accounting. Consequently time-of-supply rules for advances apply and GST liability arises on receipt/collection. Questions on accounting, documentation and audit demonstration were held outside the admissible advance-ruling scope.
The article addresses whether corpus/sinking fund contributions collected by a residential association constitute "consideration" and attract GST. It applies the statutory definitions of supply and consideration, rejects the doctrine of mutuality by operation of the deeming provision, and treats the association as a person distinct from members. Corpus contributions are characterised as advances for future supply of membership-organisation services and are distinct from recurring monthly maintenance by purpose and accounting. Consequently time-of-supply rules for advances apply and GST liability arises on receipt/collection. Questions on accounting, documentation and audit demonstration were held outside the admissible advance-ruling scope.
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