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2020 (6) TMI 643 - AAAR - GSTSupply of goods or not - transport of money by cash-carry vans - goods or not - levy of GST - rate of GST and/or Compensation Cess - Input tax credit. Whether the money being transported by the Appellant in the cash carry vans can be construed as “goods” or otherwise for the purposes of determining the availability of Input Tax Credit of the GST paid on the purchase and fabrication of the subject transport vehicles? HELD THAT:- On perusal of Rule 138 (14) of the CGST Rules, 2017, it is clearly evident that only goods are mentioned therein as well as in the annexure thereto. Among those goods, one of the items mentioned in the annexure bearing the heading “Description of Goods” is ‘money’, which clearly indicates that the legislature has considered ‘money’ as ‘goods’, when money is being transported from one place to another. By applying the above interpretation in the present fact and circumstances of the case in hand, it can decisively be inferred that money under question is nothing but goods. The transportation of the currency for the purpose of cash replenishment in ATMs operated by the Appellant’s clients are being regulated by RBI in the capacity of the Regulatory Authority, the guidelines of which have to be mandatorily complied with by the Appellant for carrying out their activities. Therefore, the compliance of the guidelines issued by the RBI will not detract the subject money from being goods. Further, non- applicability of the RBI guidelines on the goods other than money is quite obvious, as the RBI is the regulatory authority only in the matter related to the money and not for all the goods. Hence, such arguments, put forth by the Respondent is erroneous and absurd, and do not merit to be considered. Input tax credit - HELD THAT:- Now, when it has been established that money, transported by the Appellant in the cash -carry vans, can be considered as goods, ITC in respect of the cash carry vans used for the transportation of cash will be available to the Appellant in accordance with provisions of section 17 (5) (a)(ii) of the CGST Act, 2017.
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