Co-operative society registered is eligible for availing option provided under section 17(4)

M/s Knanaya Multi-Purpose Co-operative Credit Society Ltd. [ADVANCE RULING NO. KER/91/2020 (A.A.R. – GST – Kerala)]

In this matter the Kerala AAR held that in case applicant is a Co-operative society registered with Central Registrar of Co-operative Societies, is engaged in business of accepting deposits and granting loans and advances, applicant qualifies to be a ‘financial institution' as envisaged under section 17(4) and is eligible for availing option provided under section 17(4).

To read the complete judgment 2020 Taxo.online 1058