Deccan Wheels ., In re
Date: October 25, 2021
Subject Matter
ITC cannot be availed on second hand car if the applicant opted for concessional rate under Notification No 8/2018- Central Tax (Rate)
Summary
Q) Whether the applicant can claim Input Tax Credit on other indirect expenses incurred for the purpose of business such as rent, commission, professional fees, telephone etc. A) The applicant has submitted that for its transactions (buying and selli…
The present application has been filed under Section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as “the CGST Act and MGST Act” respectively] by M/s. DECCAN WHEEL , the applicant, seeking an advance ruling in respect of the following questions.- 1. How to calculate margin on sale of second hand goods?…