NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
The explanation to Entry No.234 prescribes treating supplies of Solar Power Generating Systems as subject to a statutory 70:30 apportionment between goods and services, producing a uniform effective tax rate of 8.9% on the gross consideration; this apportionment applies even where supplies arise under contracts described as works contracts. The Court set aside the impugned assessment for April 2018-March 2020 and remanded to the Assessing Authority to recompute tax by applying the 70:30 split and 8.9% effective rate on gross consideration and to verify whether correct tax and interest have been paid. The movable/immovable character of the contracts was left open.
The explanation to Entry No.234 prescribes treating supplies of Solar Power Generating Systems as subject to a statutory 70:30 apportionment between goods and services, producing a uniform effective tax rate of 8.9% on the gross consideration; this apportionment applies even where supplies arise under contracts described as works contracts. The Court set aside the impugned assessment for April 2018-March 2020 and remanded to the Assessing Authority to recompute tax by applying the 70:30 split and 8.9% effective rate on gross consideration and to verify whether correct tax and interest have been paid. The movable/immovable character of the contracts was left open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
