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TaxReply India Pvt Ltd

SHREENATH POLYPLAST PVT. LTD.
(Authority for Advance Ruling, Gujrat)

Hon'ble Judges:

R.B. MANKODI
G.C. JAIN
Pet. Counsel
Bhavesh S. Lakhani
Res. Counsel
Na

Petitioner / Applicant

SHREENATH POLYPLAST PVT. LTD.
Respondent NA
Court

AAR (Authority for Advance Ruling)

State

Gujrat

Date Feb 19, 2018
Order No.

GUJ/GAAR/R/2018/3

Citation

2018(2) TAXREPLY 86
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ORDER

The applicant, M/s. Shreenath Polyplast Pvt. Ltd. has raised the following questions for advance ruling - "Whether an amount charged as interest on transaction based short term loan given by the Del Credere Agent (DCA) to buyers of material is exempt from tax in terms of the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (Serial Number 27)? 2.1 The applicant has submitted in the application for Advance Ruling that they are Del Credere Agent (herein after referred to as "DCA") appointed by the supplier of goods (herein after referred to as "principal") and has dual role, the first role is to promote the sale and take orders for goods to be supplied by the principal directly and the second role is to guarantee the principal for the payment of goods supplied. If customers fail to make payment, DCA is required to make the payment to the principal. Normally, Principal takes Bank Guarantee (BG) and / or Security Deposit against which principa....

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