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of <h1>Input Tax Credit Clarifications: Demo Vehicles, Insolvency Procedures, and Zero-Rated SEZ Supplies Under Section 16(1) CGST Act</h1> Under Section 16(1) of the CGST Act, every registered person is entitled to claim Input Tax Credit (ITC) for input tax on goods or services used in business, credited to their electronic ledger, subject to prescribed conditions. Key clarifications include ITC on demo vehicles capitalized by dealers and special procedures for corporate debtors under insolvency managed by resolution professionals. It is clarified that interim resolution professionals need not obtain new registration if prior GST returns were filed. Additionally, the benefit of zero-rated supply for SEZ developers includes various procurement services as per Circular No. 48/22/2018-GST.
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