AAAR: Affirms classification of ‘Power Bank’ as ‘Accumulator’ under HSN 8507, upholds AAR

Karnataka AAAR upholds AAR order classifying ‘Power Banks’ under heading 8507 affirming that Power Bank was always considered as an Accumulator and never a Static Converter; Observes that the power bank is made up of battery combined with the charge management system and the voltage boost converter, which work in tandem to perform the function of storing electrical energy and discharging it to the connected devices when required; Remarks that, “mere fact that there is a...