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Despite RBI prod, banks unwilling to cut lending rates as deposits dwindle Despite RBI prod, banks unwilling to cut lending rates as deposits dwindle

Despite RBI prod, banks unwilling to cut lending rates as deposits dwindle

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 latter that are registered with the e-platform place a discount offer, either annual percentage rate or a flat discount, to receive early payment. Invoices for discount are picked up by the software algorithm, based on which the ...

First Published: Mon, March 11 2019. 13:34 IST
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