Nod to enter demo car tax credit score, Auto News, ET Auto

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Previously, the banks in Jharkhand, Maharashtra and Kerala also allowed car sellers to claim tax credit for buying demonstrator cars.

Mumbai: In some good news for accepted auto sellers, the GST Authority for Advance Rulings (AAR) has been consistent in its way of claiming demonstration auto purchase tax credit. This will also be quick in opposition to legal liability for Goods and Goods and Services Tax (GST).

The most recent decision was made by the West Bengal bench of GST-AAR regarding Toplink Motorcar, a licensed broker for Hyundai Motor. In addition to buying motor cars that were offered to buyers, the broker also bought others that were used as show cars for demonstration purposes and for potential buyers to have a tribulation run .

The value of these automobiles was once capitalized and was no longer proven as a stock in trade. The AAR bench noticed that demo cars are sold after the demo/verification duration as stipulated by the automaker. He went on to say that registration for the demonstrator car purchase tax credit cannot be refused simply because these cars are capitalized or because they can be sold later for less than their value. of purchase.

Previously, the banks in Jharkhand, Maharashtra and Kerala also allowed car sellers to claim tax credit for buying demonstrator cars.

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