MRF can avail input tax credit only for invoice value: Tamil Nadu authority

The Tamil Nadu Advance Ruling Authority (ARA) has said tyre major MRF may avail of input tax credit only to the extent of the value of the invoice in question, not on the discounts offered by vendors on interface software. In the  MRF case, the company intended subscribing to an online platform, C2FO, which would connect the buyer with vendors. Those of the…