Home Highlights April 2014 Year 2014 This

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1. Allowability of depreciation @10% as against 100% claimed by the assessee - nature of expenditure on Civil work, flooring work, and finishing work, etc incurred as...

2. Disallowance of construction expenditure incurred after the issue of occupation certificate (OC) - It is seen that the nature of work which was incurred by the assessee...

3. Valuation - Job-work - The valuation of job worked goods computed by the department on the basis of cost of raw material + job work charges is incorrect.

4. Disallowance of job work expenses - there is a direct relation between the amount of sales viz a viz the job work charges incurred by the assessee, therefore such...

5. Valuation - expenditure incurred for deployment of own machineries and equipments in execution of the work and establishment expenditure are allowed as deduction - HC

6. TP Adjustment - Working capital adjustment - there is no need for making any negative working capital adjustment, when assessee does not carry on with any working...

7. Scope of exemption from GST - As the exemption notification have to be strictly construed, the exemption extended to a works contractor is not applicable for his...

8. Disallowance of interest relating to Capital Work in Progress (CWIP) - The Appellant has furnished the relevant working capital facility agreements and ledger account to...

9. Job work - valuation under central excise - Rule 10A(i) or (ii) or Rule 8 of the Valuation Rules will not apply in respect of job worked goods consumed by the principal...

10. Classification of Works Contract service -original work - Had the authorities below gone through each and every work order and the annexure mentioning the scope of work...

11. Works Contract - Earth Work - the applicant is rendering composite supply of works contract as defined in clause (119) of Section 2 of the CGST Act, 2017, to GMIDC, a...

12. Construction service - works contract - Rate of tax on goods supplied under the contract, independent of the Works Contract being executed in the contract. -...

13. Benefit of concessional rate of GST - Supply of works contract to the Indian Railways - construction services - The supply provided by the applicant does not fall under...

14. Eligibility of avail ITC - Works contract services - input services - Housing society - The society itself is not works contract service provider, nor it is in the...

15. Input tax credit - expenditure incurred for 'Civil and Interior Works' - said property is further used for letting out to different tenants on rental basis viz. for...