TaxTMI 
TaxTMI 
2019 (10) TMI 1390
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....sistant) 1. Brief submission of the applicant: 1.1 The Applicant is incorporated under Section 18 of the Warehousing Corporations Act, 1962, which is an Act of Parliament. At present the equity of the Applicant is held equally by the Government of Haryana and Central Warehousing Corporation, which is established under Section 3 of the Warehousing Corporations Act, 1962. 1.2 The 100% of equity a....
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....fication No. 32/2017- Central Tax (Rate) dated 13.10.2017 is as follows: "Government Entity" means an authority or a board or any other body including a society, trust, corporation, (i) set up by an Act of Parliament or State Legislature; or (ii) established by any Government, with 90% or more participation by way of equity or control, to carry out a function entrusted by the Central Governm....
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....uthority or a board or any other body including a society, trust, corporation, (i) set up by an Act of Parliament or State Legislature; or (ii) established by any Government, with 90% or more participation by way of equity or control, to carry out a function entrusted by the Central Government, State Government, Union Territory or a local authority. 3.2 In order to qualify for a Government ....
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....y share of Central Government is 55.02%. Therefore, the condition of 90% or more participation by way of equity is not fulfilled. Further, the applicant has submitted that as per Section 20 of the Warehousing Corporation Act 1962, five directors are nominated by Central Warehousing Corporation with the condition that one shall be nominated in consultation with the State Bank and at least one shall....