CBIC Issued Clarification on Availability of Input Tax Credit in Respect of Demo Vehicles
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- By Chetan Kulasri
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- Last Updated on 13 September, 2024
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Circular No. 231/25/2024-GST dated September 10th, 2024
The CBIC has issued circular to provide clarification that input tax credit in respect of demo vehicles is not blocked under clause (a) of section 17(5) of CGST Act. Also, the 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.
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