https://www.taxtmi.com/caselaws?id=377860 GST paid on passenger cars acquired for taxable leasing activity was held eligible for input tax credit, because leasing to customers is a taxable "supply" in the course of business and falls within the exception in section 17(5) for vehicles used for further supply. The ruling treated the cars as commercial assets used in a taxable leasing business, while noting that commercial registration is required and that rule 42 applies where relevant. Input tax credit was therefore available on the cars given on lease rent, subject to the stated conditions. en-us Mon, 18 Feb 2019 00:00:00 +0530 Fri, 07 Mar 2025 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377860 GST paid on passenger cars acquired for taxable leasing activity was held eligible for input tax credit, because leasing to customers is a taxable "supply" in the course of business and falls within the exception in section 17(5) for vehicles used for further supply. The ruling treated the cars as commercial assets used in a taxable leasing business, while noting that commercial registration is required and that rule 42 applies where relevant. Input tax credit was therefore available on the cars given on lease rent, subject to the stated conditions. Case-Laws GST Mon, 18 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377860