Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
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...
This circular clarifies the availability of input tax credit (ITC) on demo vehicles used by authorized dealers of motor vehicles. Key points are: ITC is available on demo vehicles used for demonstrating features to potential buyers as they promote further supply of such vehicles. However, ITC is blocked if demo vehicles are used for staff transportation. For dealers acting as agents providing marketing services, ITC is blocked as they are not making further supply. Capitalization of demo vehicles doesn't impact ITC eligibility, but depreciation claimed under Income Tax Act will block ITC. On subsequent sale of capitalized demo vehicle, reversal provisions apply. The circular aims to ensure uniform implementation across field formations.
This circular clarifies the availability of input tax credit (ITC) on demo vehicles used by authorized dealers of motor vehicles. Key points are: ITC is available on demo vehicles used for demonstrating features to potential buyers as they promote further supply of such vehicles. However, ITC is blocked if demo vehicles are used for staff transportation. For dealers acting as agents providing marketing services, ITC is blocked as they are not making further supply. Capitalization of demo vehicles doesn't impact ITC eligibility, but depreciation claimed under Income Tax Act will block ITC. On subsequent sale of capitalized demo vehicle, reversal provisions apply. The circular aims to ensure uniform implementation across field formations.
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