Input tax credit (ITC) - Demo vehicle purchased - There is clear ...

GST

January 19, 2021

Input tax credit (ITC) - Demo vehicle purchased - There is clear provision in law for admissibility of Input tax credit on motor vehicles in any of' the three conditions prescribed in clause (A), (B) and (C) of Section 17(5)(a) of GST Act. As the applicant's Demo vehicles do not comply any of the said conditions. therefore. the applicant is not eligible for Input tax credit on Demo vehicles - AAR

View Source

← Previous Next →

Input tax credit (ITC) - Demo vehicle purchased - There is clear ...

GST

January 19, 2021

You may also like:

Availment and setting off of Input tax credit (ITC) - purchases of demo vehicles - car dealer - The demo vehicles are purchased all along for further supply with the...

Entitlement to Input Tax Credit (ITC) - Inward supply of Car / Demo cars - Car used for demonstration purpose to the potential customer interested in buying Mercedes...

Availing and utilization of Input Tax Credit - The applicant had initially opted to pay GST at a lower rate without availing full ITC on goods and services used in their...

Admissibility of Input Tax Credit - GST charged by service provider on hiring of bus/motor vehicle - transportation of employees to and from the workplace - the...

CENVAT credit - capital goods - Vehicle used for Demonstration purpose - As per Section 18(6) of the CGST Act, when there is a supply of capital goods on which ITC has...

Input tax credit - Capital Goods (demo cars) - The Demo Vehicles received by the Appellant have never been received with the intent to simply 'further supply/ sell' as...

Input tax credit - eligibility of benefit of input tax credit claimed after six months from the date of invoice - the Apex court has held that credit is indefeasible....

Input tax credit - ST paid on the Motor cars of seating capacity not exceeding 13 (including Driver) leased or rented with Operators to the Vendors is not available to...

Input tax credit (ITC) - Post purchase discount - The Applicant can avail Input Tax Credit only to the extent of the invoice value less the discounts.

Reversal of Input Tax Credit (ITC) on furnace oil and LSHS oil - the furnace oil was used in the process of manufacturing of the final product and it has to be treated...

Input Tax Credit (ITC) - Constitutional Validity of Section 16(4) of the APGST Act and CGST Act, 2017 - imposition of time limit for claiming Input Tax Credit (ITC) - It...

Reversal of Input Tax credit / ITC - financial credit note is issued for part amount of invoice - the financial credit note shall not be used as a conduit to transfer...

Input tax credit - The demo vehicle is indispensable tools for promotion of sale by providing trail run to the customer. The applicant capitalizes the purchase of such...

Input Tax Credit - Reversal / refunding of ITC - the Integrated Goods and Service Tax (IGST) was not paid and ‘NIL’ return had been filed by the seller but the...

Input Tax Credit - Tax paid on cost proposed to be incurred - According to the provisions of Sec. 17(5) read with the explanation to it, credit of civil structure is...

Quick Updates: