AAAR : Denies ITC on stock transfer by HO to branches at zero value

West Bengal Appellate Authority for Advance Rulings (AAAR) modifies AAR order to the extent of clarifying that “No input tax credit…would be available for supply of goods/ services at Zero Value”; Considers Revenue’s contention that AAR’s view holding the recipient eligible to take full ITC of amount of tax paid by supplier as mentioned in respective tax invoice or any other valid document u/s 16(2)(a) of CGST Act gave the impression that ITC would be available...