The AAR, Kerala, in S. Radhakrishnan, M/s. Bright Metal Works [Advance Ruling No. KER/15/2023 dated April 03, 2023] ruled that the assessee is eligible to avail ITC of tax paid on inputs, input services and parts of fishing or floating vessels classifying under CTH 8902 are taxable at the rate of 5% GST and further ruled that the replacement of parts without consideration during the warranty period is not liable to GST.
Source: a2ztaxcorp.com
