Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
A High Court held that supply of solar power generating systems under the relevant notifications is governed by the 70:30 deemed valuation mechanism, under which 70% of the gross consideration is treated as goods taxable at 5% and 30% as services taxable at 18%. It rejected the revenue's contention that separate invoices for goods and services excluded the supply from this treatment, finding that the notifications contemplate such composite supplies and that contractual supply could not be displaced by invoicing alone. The assessment was also unsustainable because no separate valuation of goods and services had been undertaken before taxing the entire turnover at 18%. The differential levy was set aside.
A High Court held that supply of solar power generating systems under the relevant notifications is governed by the 70:30 deemed valuation mechanism, under which 70% of the gross consideration is treated as goods taxable at 5% and 30% as services taxable at 18%. It rejected the revenue's contention that separate invoices for goods and services excluded the supply from this treatment, finding that the notifications contemplate such composite supplies and that contractual supply could not be displaced by invoicing alone. The assessment was also unsustainable because no separate valuation of goods and services had been undertaken before taxing the entire turnover at 18%. The differential levy was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
