https://www.taxtmi.com/caselaws?id=377099 An entity carrying on financing and lending as part of its statutory business may qualify as a financial institution for GST input tax credit restriction purposes if it falls within the definition adopted from the RBI Act, 1934. The applicant's mandate included financing, advancing and lending money, and its activities involved term loans, short-term loans and working capital support on terms similar to financial institutions. On that basis, and noting its status as a public financial institution, the Authority held it to be a financial institution and eligible for the fifty per cent input tax credit option under the GST law. en-us Fri, 22 Feb 2019 00:00:00 +0530 Thu, 06 Mar 2025 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377099 An entity carrying on financing and lending as part of its statutory business may qualify as a financial institution for GST input tax credit restriction purposes if it falls within the definition adopted from the RBI Act, 1934. The applicant's mandate included financing, advancing and lending money, and its activities involved term loans, short-term loans and working capital support on terms similar to financial institutions. On that basis, and noting its status as a public financial institution, the Authority held it to be a financial institution and eligible for the fifty per cent input tax credit option under the GST law. Case-Laws GST Fri, 22 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377099