Case Law Details
In re BVN Traders (GST AAR Uttar Pradesh)
The main issue revolved around understanding if the Duty Credit Scrips issued under the RoSCTL scheme were taxable or exempt under GST schedule I, Sl. No.-122A HSN code 4907. To decide this, the notifications and amendments concerning the Duty Credit Scrips and RoSCTL were thoroughly scrutinized.
Upon examining the legal provisions and notifications in light of the RoSCTL scheme, the conclusion drawn was that Duty Credit Scrips issued under RoSCTL are not taxable under the specified GST schedule and HSN code. Furthermore, it was determined that the relevant exemption notification is applicable to all Duty Credit Scrips, excluding certain ineligible ones.
FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, UTTAR PRADESH
—-M/s BVN Traders, a proprietor, registered with GST vide GSTIN 09AATFB5846Q1ZD under trade name M/s BVNTRADERS bearing principal address at 7/17, Siddarth Villa, Parwati Bangla Road, Tilak Nagar, Kanpur, Uttar Pradesh-208002 (hereinafter referred as “the applicant”) is a firm engaged in buying and selling of “Duty Credit Scrips”. For this purpose it is holder of IEC code issued by the Ministry of Commerce and Industry of Government of India.
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