Automobile dealers can claim ITC on demo cars used for promoting sales: CBIC Clarifies Key Points
The Central Board of Indirect Taxes and Customs (CBIC) recently issued Circular No. 231/25/2024-GST, dated 10th September 2024, which addresses key issues related to the availability of Input Tax Credit (ITC) on demo vehicles used by authorized motor vehicle dealers. This clarification brings uniformity in the interpretation of GST laws across field formations, offering relief […]