Used Car Dealer Can Claim ITC on Business Expenses as ITC Restriction Applies Only to Vehicles

In re Toyota Mobility Solution and Services India Pvt. Ltd. (GST AAR Karnataka) The Authority for Advance Ruling (AAR), Karnataka examined an application filed by a company engaged in the business of buying and selling used motor vehicles. The applicant purchases used passenger vehicles such as hatchbacks, sedans, SUVs, and similar categories, undertakes minor refurbishment and repairs, and subsequently sells the vehicles to end customers or transfers them to branches located in other States for sale. The company incurs various ancillary expenses in the course of its operations in addition to ...