Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
The ruling addressed the eligibility of Input Tax Credit (ITC) for cars used for demonstration purposes. It was held that demo cars can be eligible for ITC if certain conditions are met, particularly if they are intended for further supply after the demo period. The use of cars for demos does not disqualify them from ITC if they are later used for making supplies. The applicant can claim ITC on demo cars if they are subsequently used for supply. However, this entitlement is subject to conditions, such as not claiming depreciation on the tax component of demo cars' cost and ensuring they are used for further supply. The ruling was made by the Advance Ruling Authority (AAR).
The ruling addressed the eligibility of Input Tax Credit (ITC) for cars used for demonstration purposes. It was held that demo cars can be eligible for ITC if certain conditions are met, particularly if they are intended for further supply after the demo period. The use of cars for demos does not disqualify them from ITC if they are later used for making supplies. The applicant can claim ITC on demo cars if they are subsequently used for supply. However, this entitlement is subject to conditions, such as not claiming depreciation on the tax component of demo cars' cost and ensuring they are used for further supply. The ruling was made by the Advance Ruling Authority (AAR).
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