(JAN 22-28, 2023)
This weekend summary provides an analytical synopsis of the most major stories of Goods and Service tax Authority for Advance Ruling (AAR) and Appellate Authority for Advance Ruling (AAAR) that were authored at Taxscan.in during the one week from January 22 to 28, 2023
APIIC liable to Pay GST on Interest received on Annual installments
Andhra Pradesh Authority of Advance Ruling (AAR) bench of re D. Ramesh (Commissioner of State Tax ) and RV Prathamesh Bhanuuled (Joint commissioner of central Tax) recently held that Andhra Pradesh Industrial Infrastructure Corporation Limited liable to pay Goods and Service Tax on interest received on annual installment .further bench observed that Andhra Pradesh Authority of Advance Ruling (AAR) bench of re D. Ramesh (Commissioner of State Tax) and RV Prathamesh Bhanuuled (Joint commissioner of central Tax) recently held that Andhra Pradesh Industrial Infrastructure Corporation Limited liable to pay Goods and Service Tax on interest received on annual installment. Further the bench observed that APIIC had given a facility to the beneficiaries, by extending the service of fixation of annual installments with an interest at 160% per annual for delayed payment of 75% of total consideration over a period of time, In such a case, the interest on the credit facility allowed by the applicant is part of the value of taxable supply and shall be liable to GST.
No GST payable under RCM on Procurement of Renting of Immovable Property Services from SEZs
The Appellate Authority for Advance Ruling (AAAR) bench of D.K. Srinivas, and Rajeev Kumar Mital have ruled that Goods and Service Tax shall not be payable under Reverse Charge Mechanism on procurement of renting of immovable property services from Special Economic Zones (SEZ)The authority set aside the ruling of AAAR and observed that the Appellant were not required to pay GST under RCM on the impugned services of renting of immovable property services received from SEEPZ SEZ for carrying out the authorized operation in SEZ subject to furnishing of LUT or bond as a deemed supplier of such services and that the Appellant were not required to pay GST under RCM on any other services received from the suppliers located in DTA for carrying out the authorized operation in SEZ subject to furnishing of LUT or bond as a deemed supplier of such services
Forest Permit Fee attracts 18% GST
Telangana Appellate Authority for Advance Ruling(AAAR) bench of Neethu Prasad , and B. V. Sivanaga Kumari,recently held that the Applicant is obliged to pay GST on the forest permit fee paid by it under reverse charge mechanism and it would attract 18% Goods and service tax.the authority observed that the supply was to be classified as Public Administrative Services falling under Entry 29 of Notification No: 11/2017 Dated 28-06- 2017, which is taxable at 18%, for the entire period.
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