Central AC Plant, Lift, Electrical Fittings, etc., were categorized as immovable property, ineligible for GST ITC

The AAAR, Gujarat in the case of M/s. The Varachha Co-Op. Bank Ltd. [Ruling No. 37/2021 dated  October 04, 2023] observed that items like the Central Air Conditioning Plant, Lift, Electrical Fittings, and Fire Safety Extinguishers were categorized as immovable property, thereby making them ineligible for Input Tax Credit (“ITC”). Facts: M/s. The Varachha Co-Op. […]

Myntra not eligible for ITC on gift vouchers sourced from third party, rules KAAAR

Myntra is not eligible for input tax credit (ITC) on the gift vouchers sourced from third party and made available to customers participating in loyalty program, Karnataka Appellate Authority for Advance Ruling (KAAAR) has upheld. Disposing an appeal filed by e-commerce retailer, Myntra, KAAAR said the primary condition for eligibility to the input-tax-credit (ITC) is […]

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