Page 150 - GSTL_ 28th May 2020_Vol 36_Part 4

596 GST LAW TIMES [ Vol. 36
RULING
UHT Sterilized Flavoured Milk marketed under the brand name ‘Britan-
nia Winkin’ Cow Thick Shake’ by the applicant is not classifiable under
the Tariff Heading ‘0402/0404” but classifiable under CTH 2202 99 30.

_______

2020 (36) G.S.T.L. 596 (A.A.R. - GST - Kar.)

BEFORE THE AUTHORITY FOR ADVANCE RULING UNER GST,
KARNATAKA
Dr. Ravi Prasad M.P., Member (State Tax) and Shri Mashhood Ur Rehman
Farooqui, Member (Central Tax)
IN RE : ANIL KUMAR AGRAWAL
Advance Ruling No. KAR ADRG 30/2020, dated 4-5-2020
Registration (GST) - Aggregate turnover for registration - Inclusion of
incomes from different sources - Aggregate turnover to be sum of different
supplies - Interest income received from different sources - Interest earned out
of deposits/loans/advances extended, amounted to consideration and exempt-
ed by Serial No. 27(a) of Notification No. 12/2017-C.T. (Rate) - Extension of de-
posits/loans/advances exempted service and actual amounts of depos-
its/loans/advances become value of service - Actual amounts to be included in
aggregate turnover for registration - Partner’s salary, received as partner - Sala-
ry of working partner neither supply of goods nor supply of service in terms of
clause 1 of Schedule-III to Central Goods and Services Tax Act, 2017 - Even
share of profit from partnership firm not income under purview of GST - Di-
rector’s salary - Salary of executive director as an employee not includible
while remuneration to nominated director exigible to GST in hands of compa-
ny under Reverse Charge Mechanism under Section 9(3) of Central Goods and
Services Tax Act, 2017 in terms of Serial No. 6 of Notification No. 13/2017-C.T.
(Rate) - Rental income on commercial property - Transaction of rental/lease of
commercial property amounted to supply - Periodical income towards such
supply being in course or furtherance of business includible as value of taxa-
ble supply - Rental income on residential property - “Services by way of rent-
ing of residential dwelling for use as residence, classified under SAC 997211”
exempted - Aggregate Turnover includes value of exempted supplies also -
Income received as rent of residential property to be included in aggregate
turnover - Income out of maturity proceeds of life insurance policies, dividend
on shares and capital gain/loss on sale of shares - “Securities” explicitly ex-
cluded from purview of GST, by virtue of its exclusion from definition of
‘goods’ and ‘services’ - Income earned out of shares excluded - Insurance pre-
mium of policies taxable under GST, being consideration for services provid-
ed by insurance companies - On completion of contract/maturity of policy,
there would not be any service involved between policy holder and insurance
company - Amounts received on maturity of insurance policies not relevant to
aggregate turnover - Sections 2(6), 2(52), 2(102), 7 and 24 of Central Goods and
Services Tax Act, 2017. [paras 7.4, 7.5, 7.6, 7.7, 7.8, 7.9, 7.10, 7.11, 7.12, 8]
Ruling partly in favour of assessee
GST LAW TIMES  28th May 2020  150