CA Hiralal R Arsiddha (Practicing CA) (135 Points)
26 June 20111. What is mean by Industrial Undertaking for the purpose of Section 54G?
2. One of my client has Right to use in Industrial area, is index II valuation is applicable for this type of sale.
3. Is any limitation as to municipal area has been notified for the purpose of Section 54G. (like area out side 8 Km from municipal limit as non urban or etc.)
Please Replay as early as possible.
Mr. Hiralal
Industrial undertaking is where manufacturing process is done. There are many case laws available where manufacturing process is analysed.
CG notifies the area as urban area for the purpose of S 54G. There is no concept of industrial area in S 54G.
CG while notifying the urban area takes into account the municipal limits.
Sorry I did not understand Right to use in Industrial area, is index II valuation. Pls explain it
Thanks
6 days Certification Course on GST Practical Return Filing Process
CAclubindia
