Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Value of goods supplied free of cost by a service recipient does not constitute consideration for the taxable supply; consequently such free materials cannot be included in the transaction value for GST valuation and are not exigible to tax. Relying on settled precedent and GST valuation guidance, the impugned levy adding the value of cement, admixtures and waterproofing material supplied free to the petitioner was held legally unsustainable and set aside. The writ petition was allowed and amounts deposited under interim order were ordered refunded, with no order as to costs.
Value of goods supplied free of cost by a service recipient does not constitute consideration for the taxable supply; consequently such free materials cannot be included in the transaction value for GST valuation and are not exigible to tax. Relying on settled precedent and GST valuation guidance, the impugned levy adding the value of cement, admixtures and waterproofing material supplied free to the petitioner was held legally unsustainable and set aside. The writ petition was allowed and amounts deposited under interim order were ordered refunded, with no order as to costs.
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