Breif Issue :

Fact of the Case:

The applicant was engaged in the manufacturing and retailing of jewellery and articles, the applicant also maintained a network of franchisee-operated stores The applicant raised tax invoices on the Franchisee for the supply of jewellery and other articles and also for Franchise Support Services in terms of the Agreement periodically On its part, the Franchisee also raised tax invoices on the applicant for the supply of old gold, silver etc., received from the customers.

Issues Involved :

Applicant has sought advance ruling in respect weather ITC is admissible when he settles through book adjustment the debt created on inward supplies from the Franchisee.