Input Tax Credit Available for Demo Vehicles Used for Trials, Not for Staff Use; Conditions Apply for Capitalized Vehicles.

Circulars – GST – States – Highlights – The circular clarifies the availability of input tax credit on demo vehicles used by authorized dealers for providing trial runs and demonstrating features to potential buyers. It covers two key issues: availabilit

Input Tax Credit Available for Demo Vehicles Used for Trials, Not for Staff Use; Conditions Apply for Capitalized Vehicles.
Circulars
GST – States
The circular clarifies the availability of input tax credit on demo vehicles used by authorized dealers for providing trial runs and demonstrating features to potential buyers. It covers two key issues: availability of ITC on demo vehicles u/s 17(5)(a) of the CGST Act, and availability of ITC where demo vehicles are capitalized by dealers. Th

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