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TMI Blog2019 (1) TMI 486X X X X Extracts X X X X X X X X Extracts X X X X ..... dy set up by an Act of Parliament or a State Legislature or established by any Government with 51% or more participation by way of equity or control to carry out any function - As the GST Act does not define “Control”, it should be construed as defined under the Companies Act, 2013. Section 2(27) of the Companies Act, 2013 defines “Control”. It includes the right to appoint majority of the directors or to control the management or policy decisions exercisable by a person or persons acting individually or in concert, directly or indirectly, including by virtue of their shareholding or management rights or shareholders agreements or voting agreements or in any other manner. Neither the Central Government nor the State Government has any di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , wants a ruling on applicability of Notification No. 1344 FT dated 13/09/2018 under the WBGST Act, 2017 (50/2018 CT dated 13/09/2018 under the CGST Act, 2017), which are hereinafter collectively referred to as the Notification . Advance Ruling is admissible on this question under Section 97(2) (b) of the CGST / WBGST Act, 2017 (hereinafter referred to as the GST Act ). The Applicant further submits that the question raised in the Application is neither decided by nor pending for decision before any authority under any provisions of the GST Act. The officer concerned raises no objection. The Application is, therefore, admitted. 2. Section 51(1) of the GST Act empowers the Government to mandate (a) a department or establis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Andrew Yule Co and its associates are Government Companies and they together hold 62.29% of the subscribed and paid up share capital of the Applicant. The rest is held by the public. The Applicant is a deemed Government Company for the limited purpose of audit by the C AG. However, he is not a Government Company , as defined under section 2(45) of the Companies Act, 2013, as neither the Central Government nor the State Government subscribes to the paid up share capital of the Applicant. He is not a subsidiary of any Government Company either, as no Government Company separately holds more than 51% of the share capital, or exercises control by having majority in the composition of the Board of Directors. Moreover, the Registrar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding or management rights or shareholders agreements or voting agreements or in any other manner. 6. The Applicant was incorporated as a limited company on 25/03/1988 after reconstitution of the erstwhile West Bengal Filaments and Lamp Ltd. From the available materials it appears that neither the Central Government nor the State Government has any direct equity participation. But the Government Companies , as defined under section 2(45) of the Companies Act, 2013, together hold 62.29% of the paid up share capital and majority of the directors in the Board. WBIDC alone holds 49.46% of the shares, and enjoys four votes (including the casting vote of the Chairman) in a nine member Board. The Central and the State Governments, therefore, ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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