The Karnataka Appellate Authority for Advance Ruling ( AAAR ) has held that Myntra design Pvt Ltd which is an Indian fashion e-commerce company would not be eligible for Income Tax Credit ( ITC ) on vouchers as it was neither good nor service. The Appellant Myntra design ns Pvt ltd owns an e-commerce portal www.myntra.com and is a major Indian fashion e-commerce company. In order to enhance its business, the Appellant proposed to run a loyalty programme where loyalty points would be awarded on the basis of purchases made by the customer on its e-commerce platform.
Read More: Taxscan
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