Expanded Government Entity definitions broaden exempt supply beneficiaries while restricting input tax credit for certain transport and works contracts. Amendments expand exemption recipients to include Central Government, State Government, Union territory, local authorities, Governmental Authority and Government Entity, define those terms by statutory establishment and ninety per cent participation, and condition supplies to such entities on procurement related to entrusted works. They revise entries for composite works contracts (including predominantly earth work and offshore E&P), passenger transport and vehicle renting where fuel is included with input tax credit restrictions, transportation of natural gas, leasing of pre-commencement vehicles with a reduced tax treatment, and broaden goods and job-work classifications.
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Expanded Government Entity definitions broaden exempt supply beneficiaries while restricting input tax credit for certain transport and works contracts.
Amendments expand exemption recipients to include Central Government, State Government, Union territory, local authorities, Governmental Authority and Government Entity, define those terms by statutory establishment and ninety per cent participation, and condition supplies to such entities on procurement related to entrusted works. They revise entries for composite works contracts (including predominantly earth work and offshore E&P), passenger transport and vehicle renting where fuel is included with input tax credit restrictions, transportation of natural gas, leasing of pre-commencement vehicles with a reduced tax treatment, and broaden goods and job-work classifications.
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