Case LawOrder No. AAR/GST/PB/22
Punjab State Power Corporation Limited ., In re
- Court:
- Authority for Advance Ruling
- Bench:
- Punjab
- Date:
- October 27, 2022
- Type:
- Advance Ruling
- Members:
- Viraj Tidke, Varinder Kaur
Subject
Prepayment premium charged for prepayment of loans is NOT taxable under GST
Valuation
Summary
The case law involves M/s Punjab State Power Corporation Limited ("PSPCL") seeking a ruling on whether the prepayment premium charged by Power Finance Corporation Limited for prepayment of loans is taxable under the CGST Act, 2017. The issu…
Judgement
FULL TEXT OF THE ORDER OF AUTHORITY FOR ADVANCE RULING, PUNJAB 2. BRIEF FACTS OF THE CASE: – (1) M/s Punjab State Power Corporation Limited, PSEB Head Office, The Mall, Patiala, Punjab-147001 (PSPCL) is a Punjab Government undertaking engaged in the generation, transmission and distribution of electricity (GST Registration No.03AAFCP5120Q1ZC) which is exempt under GST Act, vide Notific…