Particulate matter permits are tradable goods under HSN 4907 (4970 00 90); sales attract 12% GST and business income

Particulate matter permits are tradable goods under HSN 4907 (4970 00 90); sales attract 12% GST and business incomeCase-LawsGSTThe AAR held that particulate matter permits are tradable goods, not securities, and are classifiable under HSN Heading 4907 (r

Particulate matter permits are tradable goods under HSN 4907 (4970 00 90); sales attract 12% GST and business income
Case-Laws
GST
The AAR held that particulate matter permits are tradable goods, not securities, and are classifiable under HSN Heading 4907 (residuary code 4970 00 90). Applying ejusdem generis, the Authority rejected treating PM-permits as akin to bonds, stocks or debentures. The permits confer transferable economic benefits, have market value, are auctioned on the design

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