AAR: Denies ITC of IGST/Compensation Cess on ‘cars’ received on stock transfer basis for ‘sales promotion’

Haryana AAR holds that ITC of IGST & Compensation Cess on receipt of cars (on stock-transfer basis) used for specified business activities (marketing & promotional activities) by Applicant-unit, is not available; Notes that demo cars are used for promotional purpose for the prospective customers and after specified period of time, sold off for the book value, paying the applicable taxes at that point of time; Observes that Applicant, uses vehicles for ‘specified bus...