Advance ruling for completed transactions: prospectivity bars AAR from deciding taxability or ITC after the deal is closed.

Advance ruling for completed transactions: prospectivity bars AAR from deciding taxability or ITC after the deal is closed.Case-LawsGSTAdvance rulings under Section 95(a) are prospective; where all contractual acts, possession and payment were completed b

Advance ruling for completed transactions: prospectivity bars AAR from deciding taxability or ITC after the deal is closed.
Case-Laws
GST
Advance rulings under Section 95(a) are prospective; where all contractual acts, possession and payment were completed before filing, the transaction is not a supply “being undertaken or proposed” and therefore falls outside the AAR's permissible scope. The authority found that the assignment of leasehold rights and related charges were fully executed

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