https://www.taxtmi.com/article/detailed?id=8912 The article analyses an AAR ruling treating permanent disposal of pre-GST capitalised fixtures as a supply of goods under Schedule II entry 4(a) because the assets ceased to form part of the business, and critiques the AAR's view that Schedule II operates only after insertion of Section 7(1A). The author stresses Schedule II is classificatory and cannot act independently of Section 7(1), and observes that Section 7(1A) has retrospective effect to GST's commencement, thereby affecting the temporal application of Schedule II classifications. en-us Wed, 22 Jan 2020 09:51:53 +0530 Wed, 22 Jan 2020 09:51:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8912 The article analyses an AAR ruling treating permanent disposal of pre-GST capitalised fixtures as a supply of goods under Schedule II entry 4(a) because the assets ceased to form part of the business, and critiques the AAR's view that Schedule II operates only after insertion of Section 7(1A). The author stresses Schedule II is classificatory and cannot act independently of Section 7(1), and observes that Section 7(1A) has retrospective effect to GST's commencement, thereby affecting the temporal application of Schedule II classifications. Articles Goods and Services Tax - GST Wed, 22 Jan 2020 09:51:53 +0530 https://www.taxtmi.com/article/detailed?id=8912