9911796707
TMI Blog2024 (11) TMI 1403X X X X Extracts X X X X X X X X Extracts X X X X ..... VASHISTH PRESENT: For the Petitioner(s): Ms. Priyanka Rathi, Advocate and Mr. Ashwini Chandrasekaran, Advocate. For the Respondent: Ms. Mamta Singla Talwar, DAG, Haryana. **** SANJEEV PRAKASH SHARMA , J. (ORAL) 1. A clarification of availability of Input Tax Credit in respect of demo vehicles, has been issued vide Circular No. 231/25/2024-GST (F.NO.CBIC-20001/6/2024-GST], dated 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to or forming part of the land which are agreed to be severed before supply or under a contract of supply. 5.3 Also, section 2 (19) of CGST Act defines "capital goods" as, "capital goods" means goods, the value of which is capitalized in the books of account of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business. 5.4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f CGST Act also recognizes that capital goods are used or intended to be used in the course or furtherance of business. Accordingly, availability of input tax credit on demo vehicles is not affected by way of capitalization of such vehicles in the books of account of the authorized dealers, subject to other provisions of the Act. 5.5 However, it is to be mentioned that in case of capitalization ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 231/25-HGST/2024/GST-II (CBIC Circular No.231/25/2024- GST, dated 11.09.2024), dated 13th September 2024. 3. Said circular discussed the availability of Input Tax Credit on demo vehicles, which are motor vehicles for transportation of passengers having approved seating capacity of not more than 13 persons in terms of clause(a) of section 17(5) of Haryana Goods & Services Tax Act, 2017. Furth ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
