The Authority for Advance Ruling (AAR), Karnataka, has recently in an application filed before it, held that ITC is allowable in respect of fresh and semi processed meat products.
The facts of the case were that the applicant M/s Meat Mart Unit of the New Bangalore Ham Shop, was a partnership firm registered under the provisions of Central Goods and Services Tax Act, 2017, as well as the Karnataka Goods and Services Act, 2017.
The applicant being engaged in the trading of fresh and semi processed meat products like chicken, mutton, fish, pork and all types of packed cold cuts spices and masala power etc, were trading both taxable and exempted goods.
The percentage of exempted goods traded around being 90%, followed by the balance of 10% trade in taxable goods, the applicant sought the advance ruling in respect of the questions as to what percentage of GST input tax should be claimed for their nature of business.
Hearing the submissions of Shri B.K Srinivas, the advocate and duly authorised representative of the applicant, the AAR Panel consisting of Dr. M.P Ravi Prasad, The Additional Commissioner of Commercial Taxes, along with Sri Kiran Reddy T, The Additional Commissioner of Customs and Indirect Taxes, held:
“Input Tax Credit has to be availed in terms of section 16 and 17 of CGST Act 2017 read with Rule 42 of the CGST Rules 2017”.
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