INCOME TAX UPDATE
‘Solely’ in section 10(23C)(vi) means exclusively/only; This interpretation will apply prospectively to avoid disruptive effect: SC
GST UPDATES
ITC benefit to be passed as soon as same was availed since buyer can’t be asked to wait till completion of project: NAA
INCOME TAX UPDATES
ITAT rejects assessee’s story of getting credit from fabric sellers of unknown location; upholds Sec. 68 additions.
GST UPDATES
Solid Waste Management services falls under SAC No. 9994 in Group 99943 i.e., Waste treatment and disposal services and the same is not exempted from GST even if it is provided to the Government authority or a government entity.
GST UPDATES
Ready to eat Popcorns falls under tariff heading ‘1904’ (18% GST) as it is prepared by swelling the corn by a process of heating the same.
GST UPDATES
Taxpayer is not liable for paying any interest or penalty for Wrongfully availed transitional credit until and unless it is utilized for discharging the tax liability.
GST Updates
Dental Services (except bleaching of teeth and dental veneers for smile designing) shall be considered as healthcare services and are exempt from GST.