Approved gratuity fund provisions remain deductible despite general actual-payment requirements, preventing revision of the allowed gratuity deduction...
Project-wise anti-profiteering calculations in real estate may quantify additional GST input tax credit against project purchase value, provided the aggregate saving is allocated across total project area on a per-square-foot basis rather than linked to buyer collections or turnover. This complies with Section 171's commensurate-price requirement because construction expenditure and credit accrual may not track receipts. A pre-GST CENVAT offset requires evidence of actual availment; theoretical but unclaimed eligibility does not reduce the GST-period benefit. GST collected on consideration inflated by an undistributed benefit forms part of the amount returnable to purchasers, separately from interest for delayed return. Evidence must distinguish principal benefit, GST and interest.
Project-wise anti-profiteering calculations in real estate may quantify additional GST input tax credit against project purchase value, provided the aggregate saving is allocated across total project area on a per-square-foot basis rather than linked to buyer collections or turnover. This complies with Section 171's commensurate-price requirement because construction expenditure and credit accrual may not track receipts. A pre-GST CENVAT offset requires evidence of actual availment; theoretical but unclaimed eligibility does not reduce the GST-period benefit. GST collected on consideration inflated by an undistributed benefit forms part of the amount returnable to purchasers, separately from interest for delayed return. Evidence must distinguish principal benefit, GST and interest.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
