No ITC on Share Buyback Expenses Unless Linked to Taxable Supply: AAR [Read Order]
Gujarat AAR ruled that GNFC cannot claim Input Tax Credit on expenses related to share buyback, as it involves transactions in securities which are outside the scope of GST
By Kavi Priya - On April 12, 2025 8:16 pm - 2 mins read
In the case of Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), the Gujarat Authority for Advance Ruling (AAR) held that the Input Tax Credit (ITC) on expenses incurred for buyback of shares is not admissible under GST laws, as such transactions involve securities which are neither goods nor services. The case was brought before…
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