Second-hand motor vehicle dealers u/r 32(5) margin scheme: GST on margin only; ITC allowed for repairs
Case-Laws
GST
Where a registered person trades in second-hand motor vehicles and does not avail ITC on the purchase of such vehicles, GST is payable only on the margin under Rule 32(5) read with N/N 8/2018-CT (Rate). The restriction on ITC applies only to tax paid on purchase of the used vehicles themselves; it does not bar ITC on other inward supplies used in the course or furtherance
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =