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- Whether Co-operative Credit Society is eligible to avail the option to avail 50% of eligible credit of input tax on inputs, capital goods and input services ?
Whether Co-operative Credit Society is eligible to avail the option to avail 50% of eligible credit of input tax on inputs, capital goods and input services ?
TRT-2026-782
Issue Favourable to Tax Payer ?:- yes
Held - On a conjoint reading of the provisions of clauses (c) and (e) of Section 45-1 of the Reserve Bank of India Act, 1934 it is evident that the applicant being a Co-operative Society registered with the Central Registrar of Co-operative Societies carrying on the business of financing whether by means of making loans or advances or otherwise, of any activity other than its own qualifies to be a “financial institution” as per the Reserve.....
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