Zydus Lifesciences Ltd ., In re
Date: September 21, 2025
Subject Matter
ITC Reversal Required on Mutual Fund Redemption, Deemed a 'Transaction in Securities'. AAR ruling upheld.
Summary
M/s. Zydus Lifesciences Ltd. appealed against an Advance Ruling (GAAR) which held that while the company could avail Input Tax Credit (ITC) on common inputs and services, it must reverse a proportionate amount under Section 17(2) read with Section 17…
FULL TEXT OF THE ORDER OF APPELLATE AUTHORITY FOR ADVANCE RULING, GUJARAT At the outset we would like to make it clear that the provisions of the Central Goods and Services Tax Act, 2017 and Gujarat Goods and Services Tax Act, 2017 (for short – ‘CGST Act, 2017’ and the ‘GGST Act, 2017’) are pari materia and have the same provisions in like matter and differ from each other only on a fe…