No Resolution For A Four-Year-Old Annuity Problem

In a major blow to contractors, the government has clarified that the annual deferred payments, called annuity, received by them for construction of roads and highway are taxable under GST. In a clarificatory circular, the government has said these payments aren’t covered under the Goods and Services Tax exemption. Since it’s a clarificatory circular, it means it’s merely stating the position of l…