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RavPratapSingh
CERC Is Exempt from GST: Delhi HC
The Delhi High Court in a recent judgment held that the Central Electricity Regulatory Commission and Delhi Electricity Regulatory Commission (‘Commission’) were not liable to pay GST. The Revenue sought to levy on the fees and tariff… Read More »CERC Is Exempt from GST: Delhi HC
Shimla HC Decodes Scope of Sec 43-B, IT Act, 1961
In a recent judgment, the Shimla High Court had to adjudicate on the conditions prescribed in Section 43-B, IT Act, 1961 for an assessee to claim deductions. The issue related to Section 43-B(f) which envisages deductions… Read More »Shimla HC Decodes Scope of Sec 43-B, IT Act, 1961
Assignment of Leasehold Rights is Immovable Property under GST: Guj HC
Introduction In a recent and much discussed judgment, the Gujarat High Court has held that assignment by sale and transfer of leasehold rights of a plot of land amounts to transfer of benefits arising out of… Read More »Assignment of Leasehold Rights is Immovable Property under GST: Guj HC
Telecommunication Towers are Movable Property under GST: Delhi HC
The Delhi High Court in a recent decision held that telecommunication towers are best characterized as movable property under Section 17(5), CGST Act, 2017 and are eligible for input tax credit (‘ITC’). Facts Indus Towers filed a… Read More »Telecommunication Towers are Movable Property under GST: Delhi HC
Safari Retreats: Supreme Court Adopts a ‘Strict’ Stance
The Supreme Court pronounced its judgment in the Safari Retreats case a few days ago. The judgment involved interpretation of Section 17(5), CGST Act, 2017, specifically clauses (c) and (d) read with two Explanations contained in the… Read More »Safari Retreats: Supreme Court Adopts a ‘Strict’ Stance
Much Ado About Demo Vehicles: Ambiguity on ITC Clarified
The CBIC recently issued a Circular clarifying availability of ITC in respect of demo vehicles. The Circular, as I briefly mentioned elsewhere, seems like an exercise in law making rather than a mere interpretation of law. But I… Read More »Much Ado About Demo Vehicles: Ambiguity on ITC Clarified
Fee for Technical Services: Future Demands Answers
Introduction Tax practitioners tend to refer to Fee for technical services (‘FTS’) and Royalty income in tandem with an intent to highlight the shape shifting nature of both concepts under domestic and international tax law.… Read More »Fee for Technical Services: Future Demands Answers
ESOPs-Related Compensation Present an Interesting Dilemma
Introduction Employee Stock Options (ESOPs) are typically taxable under the IT Act, 1961 in the following two instances: first, at the time of exercise of option by the employee as a perquisite. The rationale is that… Read More »ESOPs-Related Compensation Present an Interesting Dilemma