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of <h1>Gujarat High Court Confirms Subsidiaries of Government Companies Can Apply for Advance Rulings u/s 96A(b) Finance Act.</h1> A government company can apply for an advance ruling as per notification no. 27/2009 - ST dated 20-8-2009. Subsidiaries of government companies are also eligible to apply. In a relevant case, the Gujarat High Court confirmed that subsidiaries of a government company, such as those of Gujarat State Petronet Ltd., qualify as government companies under the Companies Act, 1956. Each company, whether a holding or subsidiary, is a distinct legal entity with the right to seek an advance ruling. Section 96A(b) of the Finance Act supports this, allowing such entities to maintain applications before the AAR.
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