Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
Storage and warehousing of agricultural produce is exempt, but that exemption does not extend to separately hired godowns used exclusively for the exempt outward service. Renting such godowns constitutes an independent supply of rental or leasing of non-residential property and attracts GST at 18%. Where the lessor is registered, tax is payable under forward charge. Where an unregistered person rents a godown to a registered recipient, the amended reverse-charge entry applies, making the recipient liable to pay GST at 18% from 10.10.2024.
Storage and warehousing of agricultural produce is exempt, but that exemption does not extend to separately hired godowns used exclusively for the exempt outward service. Renting such godowns constitutes an independent supply of rental or leasing of non-residential property and attracts GST at 18%. Where the lessor is registered, tax is payable under forward charge. Where an unregistered person rents a godown to a registered recipient, the amended reverse-charge entry applies, making the recipient liable to pay GST at 18% from 10.10.2024.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
