Divergent AAR rulings on GST on AMCs put industry in a fix

Conflicting rulings from tax authorities of advance rulings in different states on applicable goods and services tax rate on annual maintenance contracts have caused considerable confusion in the industry. The various Authorities of Advance Rulings (AARs) have pegged  GST on annual maintenance contracts (AMCs) that companies offer to customers of various products and equipment at 12%, or 18%,…