Page 17 - GSTL_ 28th May 2020_Vol 36_Part 4

2020 ] INDEX - 28th May, 2020 xv
Refund/Refund Claim (Contd.)
Services Tax Act, 2017 - Rule 89 of Central Goods and Services Tax Rules,
2017 — In Re : Gravita India Ltd. (Commr. Appl. - GST - Raj.) ............... 532
— under GST, scope of re-credit of rejected refund claim - See under RE-
CREDIT ....................................... 532
Registration (GST) - Aggregate turnover for registration - Inclusion of
incomes from different sources - Aggregate turnover to be sum of
different supplies - Interest income received from different sources -
Interest earned out of deposits/loans/advances extended, amounted to
consideration and exempted by Serial No. 27(a) of Notification No.
12/2017-C.T. (Rate) - Extension of deposits/loans/advances exempted
service and actual amounts of deposits/loans/advances become value of
service - Actual amounts to be included in aggregate turnover for
registration - Partner’s salary, received as partner - Salary of working
partner neither supply of goods nor supply of service in terms of clause 1
of Schedule-III to Central Goods and Services Tax Act, 2017 - Even share
of profit from partnership firm not income under purview of GST -
Director’s salary - Salary of executive director as an employee not
includible while remuneration to nominated director exigible to GST in
hands of company under Reverse Charge Mechanism under Section 9(3)
of Central Goods and Services Tax Act, 2017 in terms of Serial No. 6 of
Notification No. 13/2017-C.T. (Rate) - Rental income on commercial
property - Transaction of rental/lease of commercial property amounted
to supply - Periodical income towards such supply being in course or
furtherance of business includible as value of taxable supply - Rental
income on residential property - “Services by way of renting of
residential dwelling for use as residence, classified under SAC 997211”
exempted - Aggregate Turnover includes value of exempted supplies
also - Income received as rent of residential property to be included in
aggregate turnover - Income out of maturity proceeds of life insurance
policies, dividend on shares and capital gain/loss on sale of shares -
“Securities” explicitly excluded from purview of GST, by virtue of its
exclusion from definition of ‘goods’ and ‘services’ - Income earned out of
shares excluded - Insurance premium of policies taxable under GST,
being consideration for services provided by insurance companies - On
completion of contract/maturity of policy, there would not be any
service involved between policy holder and insurance company -
Amounts received on maturity of insurance policies not relevant to
aggregate turnover - Sections 2(6), 2(52), 2(102), 7 and 24 of Central
Goods and Services Tax Act, 2017 — In Re : Anil Kumar Agrawal (A.A.R. - GST -
Kar.) ......................................... 596
Rental income on commercial property, scope of inclusion in determining
aggregate turnover for GST registration - See under REGISTRATION
(GST) ........................................ 596
— on residential property, scope of inclusion in determining aggregate
turnover for GST registration - See under REGISTRATION (GST) ....... 596
Revenue officers searching premises in violation of statutory provisions and
fundamental rights, officers liable for action under IPC - See under GST ... 498
Reversal of credit - Questions relating to utilization of credit availed and
reversal of credit availed beyond jurisdiction of AAR - See under
ADVANCE RULING ................................ 602
GST LAW TIMES  28th May 2020  17