Punjab State Power Corporation Limited ., In re
Date: October 27, 2022
Court: Authority for Advance Ruling
Bench: Punjab
Type: Advance Ruling
Judge(s)/Member(s): Viraj Tidke, Varinder Kaur
Subject Matter
Prepayment premium charged for prepayment of loans is NOT taxable under GST
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…
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…