Geekay Wires Limited ., In re
Date: September 1, 2023
Subject Matter
ITC is required to be reversed even when the destroyed finished goods can be sold as steel scrap in the open market
Summary
The ruling discusses the interpretation of statutes and the principles followed by the Honorable Supreme Court of India. It specifically relates to the eligibility of input tax credit under the GST act in different scenarios, such as when raw materia…
FULL TEXT OF THE ORDER OF AUTHORITY FOR ADVANCE RULING, TELANGANA 1. M/s. Geekay Wires Limited, 11-70/5, 2nd Floor, G.P Complex Shivalayam Road, Fathenagar, Rangareddy, Telangana -500 018 (36AAACG7452M1ZA) has filed an application in FORM GST ARA-01 under Section 97(1) of TGST Act, 2017 read with Rule 104 of CGST/TGST Rules. 2. At the outset, it is made clear that the provisions of both the CGST A…