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GUJARAT NARMADA VALLEY FERILIZERS & CHEMICALS LIMITED.
(Authority for Advance Ruling, Gujrat)

Hon'ble Judges:

P.B. MEENA
KAMAL SHUKLA
Pet. Counsel
Hardik Shah
Heena Patel
Rakesh Kumar B Kayastha
Res. Counsel
---

Petitioner / Applicant

GUJARAT NARMADA VALLEY FERILIZERS & CHEMICALS LIMITED.
Respondent NA
Court

AAR (Authority for Advance Ruling)

State

Gujrat

Date Mar 25, 2025
Order No.

GUJ/GAAR/R/2025/11 (In Application No. Advance Ruling/SGST&CGST/2024/AR/22)

Citation

2025(3) TAXREPLY 12890
Original Order
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ORDER

Brief facts: M/s. Gujarat Narmada Valley Fertilizers & Chemicals Limited, P.O. Narmadanagar, District Bharuch, Gujarat-392015, (for short - ‘applicant’) is engaged in the manufacturing of fertilizers and chemicals. The applicant is registered with the department and their registration No. is 24AAA8372Q1Z2. 2. Briefly, the details as submitted by the applicant are as under: that the applicant, is a public limited company as per the Companies Act, 2013 and its shares are listed on the stock exchange; that they had initiated a share buyback programme1 in December 2023; that they are eligible for ITC on the expenditure incurred towards buyback of its shares; that the buyback of shares is an activity undertaken in the course or furtherance of business. 3. The applicant has further stated that buyback of shares improves company’s financial standing, creates value for shareholders, contributes prestige & promotes the Company&....

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