National Dairy Development Board ., In re
Date: February 22, 2019
Subject Matter
National Dairy Development Board is to be considered as 'Financial Institution' for the purpose of section 17(4) of the CGST Act, 2017
Summary
Q) Whether NDDB can be considered as financial institution for the purpose of availing credit to the extent of fifty percent of input tax credit, as prescribed in Section 17 of CGST Act, 2017? A) It is relevant to examine the meaning assigned t…
The applicant, NDDB, is a statutory body constituted by an Act of Parliament, namely the National Dairy Development Board Act, 1987 (NDDB Act); the objectives of NDDB include promoting dairy and other agriculture based industries; and the activities undertaken by NDDB, to fulfill its objectives, not only include technical or administration assistance but also financial assistance. 1.1 The applican…