AAR : ITC available on passenger vehicles further supplied on lease rent, both pre & post Section 17 amendment

Madhya Pradesh AAR rules that applicant is entitled to avail ITC on cars (passenger vehicles) further supplied to customers on lease rent subject to conditions stipulated for such supply vide Notification No. 11/2017-Central Tax (Rate); Remarks that, words “taxable supply” and “further supply” finding a place in sub-section of Section 17 are of great importance while explaining that term “‘further’ prefixed to ‘supply’ is merely in the form of adverb and doe...