Confusion over GST on annuity from govt: Infra companies under taxman’s lens

Several infrastructure companies that are building highways have come under the tax department’s scrutiny for misinterpretation of the word “annuity” in the goods and services tax (GST) framework. The tax department had said that annuity is outside the gamut of the GST framework. By this the government meant that the toll paid as annuity or in bulk will also be exempt.  Now, many construction…