In a major setback to Myntra, the Karnataka Authority of Advance Ruling (AAR) has held that Input Tax Credit (ITC) cannot be availed on vouchers and subscription packages procured from third-party vendors. The applicant, Myntra, is a major Indian fashion e-commerce company and owns an ecommerce portal. The applicant is engaged in the business of selling fashion and lifestyle products through the portal. The suppliers of such products, intending to sell their products through the applicant’s portal, list them on the portal and sell them to customers who place their order using the applicant’s portal. Once an order is placed by the customer, the applicant collects money from them towards the purchase of the said order through its portal in the capacity of an e-commerce portal operator and settles the amount payable with the supplier of the said order within a specified period.
Source Taxscan
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