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2024 (3) TMI 44 - AAR - GSTMaintainability of Advance Ruling application - completed transaction - Supply or not - subsequent transfer of State Industries Promotion Corporation of Tamil Nadu Limited’s (SIPCOT) allotted lease hold rights in the land from the Applicant to M/s. Kanta Flex (India) Private Limited - applicable HSN/SAC code and GST Rate - HELD THAT:- As the financial transactions relating to the instant issue, have been carried out in its entirety by 07.05.2022, i.e., the date of last payment, any liability arising out of the taxability or otherwise, on the instant transaction, ought to have been discharged at the relevant point of time by the applicant. ‘Advance Ruling’ as the name suggests, are rulings pronounced upfront aimed at facilitating the trade on issues of ambiguous nature. The queries raised by the applicant relating to taxability and classification, if any, involved on the issue in question, need not be answered, inasmuch as the transaction stands completed already, before the filing of application by the applicant. The applicant cannot seek an advance ruling on a completed transaction as laid down in Section 95(a) of the CGST Act, 2017, and accordingly, this authority refrains from giving any ruling in this regard.
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