Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The AAR held that input tax credit is not available on motor vehicles with an approved seating capacity of less than or equal to 13 persons (including driver), except for specific categories mentioned u/s 17(5)(a) of CGST/TNGST Act, 2017. The applicant's activity of providing 'Automobile Bench Marking Service' and supplying 'Scrap of Automobiles' does not fall within the exceptions. Therefore, input tax credit on purchase of motor vehicles used for such outward taxable supplies is not available to the applicant.
The AAR held that input tax credit is not available on motor vehicles with an approved seating capacity of less than or equal to 13 persons (including driver), except for specific categories mentioned u/s 17(5)(a) of CGST/TNGST Act, 2017. The applicant's activity of providing 'Automobile Bench Marking Service' and supplying 'Scrap of Automobiles' does not fall within the exceptions. Therefore, input tax credit on purchase of motor vehicles used for such outward taxable supplies is not available to the applicant.
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