Separate business unit compliance for non-SEBI-regulated debenture trustee activities receives an extended implementation timeline amid regulatory rev...
Input Service Distributor credit rules assign eligibility, reversals and refund treatment to recipients while excluding transfer invoices from turnove...
Related-party creditor exclusion bars CoC participation where lender rights show policy-making involvement, and post-CIRP assignment cannot cure ineli...
Input tax credit on demo vehicles used by authorised agents in the dealer-agency model is not blocked under the passenger motor vehicle restriction. The expression "such motor vehicles" permits credit not only for the particular vehicle ultimately supplied, but also for demo vehicles used to further supplies of similar vehicles. Although customer sales are made directly by the manufacturer in the dealer-agency model, the demo vehicles serve the same sales-promotion purpose as in the traditional dealership model. The earlier clarification denying credit to dealer-agency agents is withdrawn, ensuring equivalent ITC treatment for demo vehicles under both models.
Input tax credit on demo vehicles used by authorised agents in the dealer-agency model is not blocked under the passenger motor vehicle restriction. The expression "such motor vehicles" permits credit not only for the particular vehicle ultimately supplied, but also for demo vehicles used to further supplies of similar vehicles. Although customer sales are made directly by the manufacturer in the dealer-agency model, the demo vehicles serve the same sales-promotion purpose as in the traditional dealership model. The earlier clarification denying credit to dealer-agency agents is withdrawn, ensuring equivalent ITC treatment for demo vehicles under both models.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
