Mangalam Developers ., In re
- Court:
- Authority for Advance Ruling
- Bench:
- West Bengal
- Date:
- September 10, 2024
- Type:
- Advance Ruling
- Members:
- Tanisha Dutta, Joyjit Banik
Subject
Interest charges by bank should be treated as an inward supply for the purpose of calculating the 80% threshold requirement
Summary
The applicant, engaged in the construction business involving affordable housing, sought an advance ruling on whether the interest charged by HDFC Bank Ltd for a loan, being an outward supply of exempt services, should be considered as an inward supp…
Judgement
FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING WEST BENGAL 1.1 At the outset, we would like to make it clear that the provisions of the Central Goods and Services Tax Act, 2017 (the CGST Act, for short) and the West Bengal Goods and Services Tax Act, 2017 (the WBGST Act, for short) have the same provisions in like matter except for certain provisions. Therefore, unless a mention is specifically…