Majority ownership threshold required for exemption clarifies public ownership through direct or wholly owned entity. The Explanation inserted into Notification No. 12/2017-State Tax (Rate) clarifies that for the purpose of the exemption at serial number 41 an entity must have fifty per cent or more ownership by the Central Government, State Government or Union territory, either directly or through an entity which is wholly owned by the Central Government, State Government or Union territory.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Majority ownership threshold required for exemption clarifies public ownership through direct or wholly owned entity.
The Explanation inserted into Notification No. 12/2017-State Tax (Rate) clarifies that for the purpose of the exemption at serial number 41 an entity must have fifty per cent or more ownership by the Central Government, State Government or Union territory, either directly or through an entity which is wholly owned by the Central Government, State Government or Union territory.
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