This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
No ITC on Inputs & Services for Mutual Fund Subscription & Redemption: AAR Gujarat
Case Law Details
- Case Name
- In re Zydus Lifesciences Ltd. (GST AAR Gujarat)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- AAR Gujarat, Advance Rulings
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
In re Zydus Lifesciences Ltd. (GST AAR Gujarat)
The Gujarat Authority for Advance Ruling (AAR) addressed Zydus Lifesciences’ query regarding the eligibility of Input Tax Credit (ITC) on common inputs and input services used for subscribing to and redeeming mutual fund units. Zydus Lifesciences, a pharmaceutical company, argued that mutual fund redemptions should not be considered exempt supplies under GST, as securities are excluded from the definition of goods and services. The company contended that they should therefore be able to claim the ITC on common inputs. However, the AAR ruled...
