AAR : Allows Compensation Cess credit on Motor Vehicles used for rental business subject to monthly reversals

Apr 02,2019

Kerala AAR holds the applicant eligible to ITC of entire Compensation Cess paid on purchase of vehicles used for rental business subject to monthly reversals in terms of Rule 43 of CGST Rules; Notes that applicant operates renting and leasing business as separate division and while leasing supplies are taxable supply for purpose of Compensation Cess Act, rental business is exempted supply for purpose of Compensation Cess Act; Considering provision envisaged in Sec 17(2) of CG...


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