In view of Section 17(5)(a) of GST Act the applicant-unit is not entitled to avail input tax credit of IGST and compensation cess paid on receipt of cars on stock transfer basis.
Authority for Advance Ruling — ITC on Motor vehicles received on stock transfer basis – The applicant is engaged in the manufacturing, trading & selling of motor vehicles, spare parts, accessories and related services in India. The Company has various units, which are distinctively registered. The applicant sought an advance ruling as to whether the Applicant-unit is entitled to avail ITC of IGST and Compensation Cess paid on motor vehicles, which are received on stock-transfer, basis from one unit to another unit of the Company for limited use in relation to specified business activities and further supply to the authorised dealers.
Held that:- The Hon’ble Authority held that the applicant is not entitled to avail input tax credit on motor vehicles put to use as per their submissions made.
In view of Section 17(5)(a) of GST Act the applicant-unit is not entitled to avail input tax credit of IGST and compensation cess paid on receipt of cars on stock transfer basis.
Authority for Advance Ruling — ITC on Motor vehicles received on stock transfer basis – The applicant is engaged in the manufacturing, trading & selling of motor vehicles, spare parts, accessories and related services in India. The Company has various units, which are distinctively registered. The applicant sought an advance ruling as to whether the Applicant-unit is entitled to avail ITC of IGST and Compensation Cess paid on motor vehicles, which are received on stock-transfer, basis from one unit to another unit of the Company for limited use in relation to specified business activities and further supply to the authorised dealers.
Held that:- The Hon’ble Authority held that the applicant is not entitled to avail input tax credit on motor vehicles put to use as per their submissions made.