Home Case Index All Cases GST GST + AAAR GST - 2019 (12) TMI AAAR This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (12) TMI 1332 - AAAR - GSTRectification of error - Appellant have submitted that the impugned AAAR order dated 14.03.2019 needed to be rectified owing to the presence of error, which is apparent from the face of record - Circular No. CBEC-102/21/2019-GST dated 28.06.2019 issued by the CBIC - HELD THAT:- It is conceded that the Ruling made in the impugned AAAR Order is contrary to the interpretation of the legal provision as envisaged by the Board, and since the said Board Circular is beneficial in nature, the same needed to be applied retrospectively in keeping with the Hon’ble Apex Court Judgment, relied upon by the Applicant. The additional/Penal interest recovered by the Applicant from their customers against the delayed payment of monthly instalments of the loan extended to such customers, would be exempt from GST in terms of SI. 27 of the Notification No. 12/2017-C.T. (Rate) dated 28.06.2017 - Impugned order rectified.
|