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What is the meaning of Advance Ruling in gst?

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What is the meaning of Advance Ruling in gst?
posted Jun 27, 2017 by Sumeet Vyas

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Any advance tax ruling is a written interpretation of tax laws. It is issued by tax authorities to corporations and individuals who request for clarification of certain tax matters. An advance ruling is often requested when the taxpayer is confused and uncertain about certain provisions. Advance tax ruling is applied for, before starting the proposed activity.

For example, under income tax, advance ruling is available in international taxation. This is to help non-residents ascertain the income-tax liability, plan their income-tax in advance and avoid long drawn and costly legal disputes.

As per GST Law, the advance ruling is a written decision given by the tax authorities to an applicant on questions relating to the supply of goods/services.

answer Jun 29, 2017 by Shantanu Arora
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