The much-awaited Supreme Court judgment in case of Safari Retreats was delivered by the Apex Court on 3 October 2024. This highly anticipated judgement carries profound implications for the industry, necessitating a careful and comprehensive analysis.
While the Constitutional validity of Section 17(5)(c) and Section 17(5)(d) of CGST Act, 2017 has been settled by the judgement, still the question of what qualifies as a “plant” is left open to be decided in the facts and circumstances of each case. The impact the judgement leaves on leasing, REITs, commercial renting, ITES & Business Parks, convention centers , hospitality sector, etc., needs deeper analysis.
Lakshmikumaran & Sridharan Attorneys (LKS) is organising a virtual webinar on 8 October 2024 (Tuesday) from 4:30 PM to 5:30 PM, with the aim to dissect the judgement in a simplistic manner and discuss the course of action to be adopted for past positions taken as well as for future transactions.
The webinar will inter-alia cover the following:
- Difference between “plant and machinery” & “plant or machinery”
- Meaning of the term “plant” under common parlance
- Functionality test laid down by the Hon’ble Supreme Court to determine whether a building qualifies as a “plant” and past jurisprudence.
- Meaning of the term “on own account” based on end use and its impact on manufacturing and service sector.
- Impact on single contract for “works contract services” v. Split Contract for goods and services.
- Way forward for ongoing litigations, investigations, past reversals of ITC, etc.
Speaker: -
V. Lakshmikumaran, Managing Partner