Goods and Services Tax

Regarding Input Tax Credit

Goods and Services Tax – Started By: – Prateek Agrawal – Dated:- 12-4-2018 Last Replied Date:- 22-4-2018 – As I am registered dealer under GST Act. and having business of motor vehicles . For demo purpose I issued invoice in the name of firm i.e.self . whether the input credit is available or not . The same is showing in books of account under the hade fixed assests . – Reply By KASTURI SETHI – The Reply = ITC can be taken . – Reply By Ganeshan Kalyani – The Reply = Raising an invoice on demo basis will not make you eligible to take credit. This is my view. – Reply By YAGAY AND SUN – The Reply = We endorse the views of the experts. Please check the point No. 3 of the appended link. GST CONCERNS OF AUTOMOBILE DEALERS – Reply By KASTURI SETH

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ditions which are as under :- _____________________ no ITC shall be allowed in respect of motor vehicle and other conveyances except when they are used- (i) for making the following taxable supplies, namely:- (A) further supply of such vehicles or conveyances; or (B) transportation of passengers; or (C) imparting training on driving, flying, navigating such vehicles or conveyances; (ii) for transportation of goods. – Reply By KASTURI SETHI – The Reply = Procedural lapse cannot override your substantive right of ITC. If you fight legally you would get benefit. Your substantive right cannot forfeited just because you have issued invoice instead of delivery challan for demo purpose. If you pay tax by bona fide mistake, can you not claim refund

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