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Amount retained by Issuer bank in form of ‘Merchant discount rate’ is out of GST ambit

March 12, 2019[2019] 103 taxmann.com 140 (AAR - MAHARASHTRA)
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GST: Where applicant merely launches prepaid card while issuing bank provides cards and acquiring bank provides payment process services to merchants of goods and collected charges, a portion of which is received by issuing bank, applicant has no locus standi to file application for Advance Rulings questioning GST liability on said portion

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