https://www.taxtmi.com/caselaws?id=779446 AAAR dismissed the appeal and upheld that input tax credit reversal under section 17(2)/(3) is required for common inputs and input services used for mutual fund subscription and redemption. The authority held that "transactions in securities" under section 17(3) include mutual fund transactions via the statutory deeming fiction, and the rule treating value as one percent of the sale value applies to redemption. The appellant failed to demonstrate that subscription/redemption were in the course or furtherance of its business. The appeal was rejected. en-us Mon, 22 Sep 2025 00:00:00 +0530 Mon, 06 Oct 2025 09:10:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779446 AAAR dismissed the appeal and upheld that input tax credit reversal under section 17(2)/(3) is required for common inputs and input services used for mutual fund subscription and redemption. The authority held that "transactions in securities" under section 17(3) include mutual fund transactions via the statutory deeming fiction, and the rule treating value as one percent of the sale value applies to redemption. The appellant failed to demonstrate that subscription/redemption were in the course or furtherance of its business. The appeal was rejected. Case-Laws GST Mon, 22 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779446