Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
A joint development agreement does not, by itself, create a taxable works contract for the landowner's share: VAT can arise only from the developer's construction obligations once agreements with flat purchasers are executed for monetary consideration. An exchange of an undivided share in land for a corresponding built-up share is barter, not sale, because no price moves from the landowner to the developer. Entry 54 of List II permits tax only on the goods element in a works contract, so levy on land or immovable property is outside legislative competence. A circular cannot supply a missing statutory machinery for valuation, and the composition scheme cannot enlarge taxability to non-taxable land value.
A joint development agreement does not, by itself, create a taxable works contract for the landowner's share: VAT can arise only from the developer's construction obligations once agreements with flat purchasers are executed for monetary consideration. An exchange of an undivided share in land for a corresponding built-up share is barter, not sale, because no price moves from the landowner to the developer. Entry 54 of List II permits tax only on the goods element in a works contract, so levy on land or immovable property is outside legislative competence. A circular cannot supply a missing statutory machinery for valuation, and the composition scheme cannot enlarge taxability to non-taxable land value.
Note: It is a system-generated summary and is for quick reference only.
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