TMI Blog2019 (7) TMI 844X X X X Extracts X X X X X X X X Extracts X X X X ..... ions of section 18(6) of the GST Act. In the case of supply of capital goods on which input tax credit has been taken the register person shall pay an amount equal to the input tax credit on the said capital goods reduce by such percentage of points as may be prescribed or the tax on transaction value of such capital goods determined as value of taxable supply, whichever is higher. In the insta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PROCEEDING (Under Section 98 of the Goa Goods and Services Tax, Act 2017) The present application has been filed under section 97 of the Goa Goods and Services Tax Act, 2017 and the Central Goods and Services Tax, Act 2017 (hereinafter referred to as the SGST Act and CGST Act) by M/s. Chowgule Industries Private Limited, Chowgule House, Mormugao Harbour, Goa - 403803 seeking an Adva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rstand the features of the vehicle. This is an essential part of marketing and sales promotion to facilitate sale of cars. As per the dealership norms every sales outlet is bound to maintain at least one demo vehicle of each model per location. The vehicles are usually held for two years or 40,000 KM whichever is earlier and then sold. When the demo vehicles are sold applicable GST is paid on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e available in respect of motor vehicle except when they are used for making taxable supply and for transportation of goods or passengers or imparting training on driving flying navigating such vehicles or conveniences. The taxable supply includes further supply of such vehicles. The demo vehicles are being used only for a specified period. Later on when the demo vehicles are sold at the written d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... against tax invoices from the supplier after paying taxes. The demo vehicle is indispensable tools for promotion of sale by providing trail run to the customer. The applicant capitalizes the purchase of such vehicles in the books of accounts. The capital goods which are used in the course or furtherance of business is entitled for Input Tax Credit. ADVANCE RULING UNDER SECTION 98 OF THE CGST ..... X X X X Extracts X X X X X X X X Extracts X X X X
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