Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
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...
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The AAR held that a specialised steel CCV tower used in manufacturing insulated cables formed part of plant and machinery because the Explanation to section 17(5) includes apparatus, equipment and machinery fixed to earth by foundation or structural support, together with such foundation or support. On the applicant's process layout, the tower was an essential support system providing height, stability, alignment and operational integrity, so it was not a civil structure or immovable property for blocked-credit purposes. Accordingly, input tax credit on inputs and input services used to set up the tower was admissible and was not barred by section 17(5)(c) or section 17(5)(d).
The AAR held that a specialised steel CCV tower used in manufacturing insulated cables formed part of plant and machinery because the Explanation to section 17(5) includes apparatus, equipment and machinery fixed to earth by foundation or structural support, together with such foundation or support. On the applicant's process layout, the tower was an essential support system providing height, stability, alignment and operational integrity, so it was not a civil structure or immovable property for blocked-credit purposes. Accordingly, input tax credit on inputs and input services used to set up the tower was admissible and was not barred by section 17(5)(c) or section 17(5)(d).
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