Input Tax Credit (ITC) - upfront lease premium - The upfront ...

Case Laws GST

August 23, 2022

Input Tax Credit (ITC) - upfront lease premium - The upfront premium made is the lease rentals as per the allotment order/letter of Chennai Port Trusts and it is nothing but lease rentals paid for the services of 'Renting of Immovable property' for business purpose - the upfront premium paid is not related to any construction activity of such covered space but against the rental value for the period of rent calculated for the period of lease and collected upfront. Thus, provisions of Section 17(5) (d) is not applicable to the instant case. - AAR

View Source

← Previous Next →

Input Tax Credit (ITC) - upfront lease premium - The upfront ...

Case Laws GST

August 23, 2022

You may also like:

Input tax credit - ST paid on the Motor cars of seating capacity not exceeding 13 (including Driver) leased or rented with Operators to the Vendors is not available to...

Input tax credit (ITC) - The lease rental paid during the pre-operative period should be treated as part of the cost of goods and services received for the purpose of...

Renting of immovable property - lease agreement - levy of service tax on amounts collected by way of premium and rental - developing certain town - prima facie lease...

Input Tax Credit - Reversal / refunding of ITC - the Integrated Goods and Service Tax (IGST) was not paid and ‘NIL’ return had been filed by the seller but the...

Reversal of Input Tax credit / ITC - financial credit note is issued for part amount of invoice - the financial credit note shall not be used as a conduit to transfer...

Exemption from GST - upfront amount charged by the Applicant (as lease premium) for granting long-term lease of ninety years - The AAR concludes that long-term leases...

GST is applicable on mining lease payments, including royalty, payable to the Government of Rajasthan under reverse charge mechanism (RCM) at 18% (9% CGST and 9% SGST)....

Advance Ruling application on maintainability - Reversal of input tax credit to extent of tax element in credit note - no agreement between parties on credit notes not...

This is a summary of a court judgment regarding the interpretation of Rule 86A of the Central Goods and Services Tax (CGST) Rules, which deals with the blocking of input...

Input Tax Credit (ITC) - National Dairy Development Board (NDDB) can be considered as financial institution for the purpose of availing credit to the extent of fifty...

Input Tax Credit (ITC) - Period of limitation u/s 16(4) - After the decision of Supreme Court in the case of Northern Opertaing Systems, the Petitioner discharged IGST...

Denial of input tax credit (ITC) - Supplier failed to deposit the tax - The State is deprived of the tax to that extent and hence there is no question of input tax...

Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...

Utilisation of Input Tax Credit - outward supply of Gold & Silver bullion - The applicant/appellant can use the Input Tax Credit Balance available in its Electronic...

Input tax credit - eligibility of benefit of input tax credit claimed after six months from the date of invoice - the Apex court has held that credit is indefeasible....

Quick Updates: