AAR : Denies ITC on Branch-HO inter-state supplies where consideration netted off

Tamil Nadu AAR holds the branch office (BO) of applicant, engaged in the business of business of providing medium-sized heavy-duty cranes on rental/lease/hire basis, ineligible for full Input Tax Credit on the inter-state supplies (i.e. cranes) received from Head office (HO); On perusing the MOU between the supplier and applicant, observes that BO does not pay full consideration of the transaction to HO but the same is being netted off against the receivable by the BO for the...