Advance Ruling under GST is a legal mechanism that provides clarity and certainty to taxpayers regarding the applicability of GST laws and regulations.
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Under GST, taxpayers can seek an Advance Ruling from the Authority for Advance Ruling (AAR) on various matters related to the supply of goods or services or both being undertaken or proposed to be undertaken by the taxpayer.
The GST Act and rules made there under does not restrict the recipient from claiming the ITC when consideration is paid through book adjustment.
Hyderabad, Apr 23 In a move that would have a significant impact on businesses that use tax credits available on inputs and raw materials to reduce payment in cash.
Advance Ruling under GST refers to a decision provided by the authority or the appellate authority to an applicant on matters or on questions specified in sub-section (2) of section 97 or sub-section (1) of section 100 in relation to the supply of goods or services or both being undertaken or proposed to be undertaken by the applicant.
GST Applicable on the activities performed by employees at corporate office in the course of or in relation to employment such as accounting, other administrative and IT system maintenance for the units located in the other states
