VATupdate
VAT

Share this post on

ITC cannot be availed on second hand car if applicant opted for concessional rate

Maharashtra AAR rule that ITC can’t be claimed on indirect expenses when dealer is engaged in selling of second hand goods

Maharashtra Authority for Advance Ruling (Mah AAR) ruled that Input Tax Credit cannot be claimed on Indirect Expenses like rent, commission, professional fees, telephone incurred for purpose of business.

Source Taxguru

Sponsors:

VAT news
VAT news

Advertisements:

  • AXWAY - VATupdate Banner