Application for advance ruling.

Section 97(1)

An applicant desirous of obtaining an advance ruling under this Chapter may make an application in such form and manner and accompanied by such fee as may be prescribed, stating the question on which the advance ruling is sought.

AI Explanation

If you want to get an advance ruling, you need to follow a specific process outlined in Section 97(1) of the law. This article breaks down the key details to help you understand the application procedure.

Section 97(1) - How to Apply: To seek an advance ruling, you, the applicant, must fill out a form. This form has specific requirements and asks for information in a particular way. Additionally, you need to pay a fee, the amount of which will be specified by the law.

What to Include in the Application: Your application should clearly state the question for which you are seeking an advance ruling. Be sure to provide all the necessary details in the prescribed manner. This step is crucial to ensure that your application is complete and can be processed smoothly.

Conclusion: By following the guidelines outlined in Section 97(1), you can submit a well-prepared application for an advance ruling. This process is designed to be straightforward, provided you adhere to the specified form, manner, and fee requirements.

Section 97(2)

The question on which the advance ruling is sought under this Act, shall be in respect of,—

(a) classification of any goods or services or both;

(b) applicability of a notification issued under the provisions of this Act;

(c) determination of time and value of supply of goods or services or both;

(d) admissibility of input tax credit of tax paid or deemed to have been paid;

(e) determination of the liability to pay tax on any goods or services or both;

(f) whether applicant is required to be registered;

(g) whether any particular thing done by the applicant with respect to any goods or services or both amounts to or results in a supply of goods or services or both, within the meaning of that term.

AI Explanation

In this section of the Act, individuals can seek an advance ruling on specific questions. These questions pertain to various aspects, including:

1. Classification of Goods or Services The first aspect involves determining the category to which certain goods or services belong.

2. Applicability of Notifications This addresses whether a notification issued under the Act is applicable to a particular situation.

3. Time and Value of Supply Determining the time and value of supplying goods or services is another key area covered by this section.

4. Input Tax Credit Admissibility The section also deals with the admissibility of input tax credit for tax paid or deemed to have been paid.

5. Liability to Pay Tax It covers the determination of the liability to pay tax on specific goods or services.

6. Requirement for Registration One of the questions that can be raised is whether the applicant is required to be registered under the Act.

7. Identification of Supply Lastly, individuals can seek clarification on whether a particular action taken by the applicant regarding goods or services constitutes a supply within the meaning of the term.

In essence, Section 97(2) provides a structured framework for obtaining advance rulings on these crucial matters, contributing to clarity and understanding within the realm of goods and services taxation.