The AAR has given the ruling on services provided by DCA by way of extending short term loans to the buyer (recipient) and not to the principal. Even if we read the above mentioned Office Memorandum, it has clarified the short term loan given by broker to the client i.e. to the principal. Therefore, the said Office Memorandum is not applicable to the present case. Accordingly, the appeal is dismissed.
States/UT
Appellate orders File
Appeal Order No. & Date
GUJ/GAAAR/APPEAL/2018/2 dated 24.7.2018
AR Order No. and Date, against which Appeal has been filed
GUJ/GAAR/R/2018/3 dated 19.02.2018
Year