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TMI Blog2022 (7) TMI 503X X X X Extracts X X X X X X X X Extracts X X X X ..... tter and differ from each other only on a few specific provisions. Therefore, unless a mention is particularly made to such dissimilar provisions, a reference to the CGST Act would also mean reference to the corresponding similar provisions in the APGST Act. 2. The present application has been filed u/s 97 of the Central Goods & Services Tax Act, 2017 and AP Goods & Services Tax Act, 2017 (hereinafter referred to CGST Act and APGST Act respectively) by M/s. Andhra Pradesh Industrial Infrastructure Corporation Ltd (hereinafter referred to as applicant), registered under the AP Goods & Services Tax Act, 2017. 3. Brief Facts of the case: APIIC Limited was incorporated under Companies Act, 1956 on 26.09.1973 and is wholly owned undertaking o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd cost is taxable under GST or not. On verification of basic information of the applicant, it is observed that the applicant is under State jurisdiction, i.e. Assistant Commissioner (ST), Mangalagiri Circle, Guntur Division. Accordingly, the application has been forwarded to the jurisdictional officer and a copy marked to the Central Tax authorities to offer their remarks as per Sec. 98 (1) of CGST /APGST Act 2017. Remarks were received from the Central jurisdictional officer concerned on the issue, for which the Advance Ruling was sought by the applicant. 5. Applicant's Interpretation of Law: Since, the interest collected/ collectable from the entrepreneurs do not fall under the category of entry 27 in notification no.12/2017 - Ce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods nor Supply of services, as per para 5 of Schedule -III, which reads as under, "Schedule III [See section 7] Activities or Transactions Which Shall Be Treated Neither As A Supply of Goods Nor A Supply Of Services 5. Sale of land and, subject to clause (b) of paragraph 5 of Schedule II, sale of building." Whereas, the contract/ agreement that is executed between APIIC and its beneficiaries shall be treated as supply of service as per para 5 (e) of Schedule -II, which reads as under, "Schedule II [See section 7] Activities To Be Treated As Supply Of Goods Or Supply Of Services 5. Supply of services (e) agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act; and" Thus, it i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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