https://www.taxtmi.com/highlights?id=105897 The concessional GST rate for works contracts requires a qualifying recipient and predominantly non-commercial use. Co-operative society registration and government funding or supervision do not by themselves establish Government Entity status, while buildings intended for manufacturing yarn for sale serve a commercial purpose. Interest on unpaid differential GST is compensatory and is not waived for bona fide reliance. Section 73(9) penalties apply without fraud and cannot be waived for bona fides; payment of tax and interest within 30 days of notice provides the statutory route to avoid penalty. Cum-tax valuation requires tax-inclusive receipts, not consideration invoiced exclusive of tax. Input tax credit requires proof of suppliers' tax..... en-us Fri, 06 Nov 2026 11:00:02 +0530 Fri, 06 Nov 2026 11:00:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105897 The concessional GST rate for works contracts requires a qualifying recipient and predominantly non-commercial use. Co-operative society registration and government funding or supervision do not by themselves establish Government Entity status, while buildings intended for manufacturing yarn for sale serve a commercial purpose. Interest on unpaid differential GST is compensatory and is not waived for bona fide reliance. Section 73(9) penalties apply without fraud and cannot be waived for bona fides; payment of tax and interest within 30 days of notice provides the statutory route to avoid penalty. Cum-tax valuation requires tax-inclusive receipts, not consideration invoiced exclusive of tax. Input tax credit requires proof of suppliers' tax..... Highlights GST Fri, 06 Nov 2026 11:00:02 +0530 https://www.taxtmi.com/highlights?id=105897