Safset Agencies Private Ltd ., In re
Date: October 7, 2019
Subject Matter
Appellant is eligible to take benefit of margin scheme under rule 32(5) even for paintings, antique jewellery and antique watches.AAR ruling set aside.
Summary
The applicant has filed an appeal before the AAAR contending that Rule 32(5) is applicable to Paintings bought from individual art collectors/Antique watches/Antique Jewellery /Collectibles are purchased from individual collectors and users. However,…
At the outset, we would like to make it clear that the provisions of both the CGST Act and the MGST Act are the same except for certain provisions. Therefore, unless a mention is specifically made to such dissimilar provisions, a reference to the CGST Act would also mean a reference to the same provisions under the MGST Act. The present appeal has been filed under Section 100 of the Central…