AAR: Allows credit to auto-dealer of tax paid on demo-vehicles shown as 'capital asset'

Goa AAR allows Input Tax Credit (ITC) to an authorized dealer of Maruti Suzuki India Ltd. on purchase of vehicles used for demonstration purpose and trial as ‘Capital Goods’; Notes that the applicant purchases the vehicles against purchase invoices and shows them as capital assets used in course of business, observing that “demo vehicle is indispensable tools for promotion of sale by providing trial run to the customer”; Further, such vehicles are being used only for ...