GST UPDATES
Power Sprayer (engine driven) is classifiable under tariff item 8424 89 90 and GST is payable at 18 per cent on supply of such goods.
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.