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The buyback is being undertaken from all eligible shareholders on a proportionate basis through the tender offer route, at a price of INR 1,450 per equity share, payable in cash, for an aggregate amount not exceeding INR 300,00,00,000.
CAM advised The Great Eastern Shipping Company Limited on its ₹900 crore buyback of fully paid-up equity shares through the open-market stock exchange route
Reaffirming the principle that transactions in securities fall outside the ambit of GST, the Gujarat Appellate Authority for Advance Ruling held that ITC on share buyback expenses is inadmissible and must be reversed under Section 17(3) of the CGST Act, 2017.