Investment Firm Cannot Claim Input Tax Credit on Mutual Fund Transactions Under Section 17(2)

Investment Firm Cannot Claim Input Tax Credit on Mutual Fund Transactions Under Section 17(2)Case-LawsGSTThe AAR ruled that the applicant is not eligible to avail Input Tax Credit (ITC) on tax paid for inputs and input services related to mutual fund subs

Investment Firm Cannot Claim Input Tax Credit on Mutual Fund Transactions Under Section 17(2)
Case-Laws
GST
The AAR ruled that the applicant is not eligible to avail Input Tax Credit (ITC) on tax paid for inputs and input services related to mutual fund subscription and redemption activities. The Authority rejected the applicant's contention that redemption of mutual funds differs from sale of securities, clarifying that redemption constitutes a sale transaction regardless of nomenclatu

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