Hi,
2wheeler has been announced as a promotional scheme (Free of cost) to dealers against achieving certain sales targets.
Now the query is, can supplier claim ITC on 2wheelers ?
Please suggest.
ITC shall be available if 2 wheelers have been supplied free of cost by a Distributor/Trader to his dealers.
But if the same are supplied by a Manufacturer as a manufactured product, then need to reverse ITC already taken on the raw materials.
[As per CBIC Circular No. 92/11/2019 dated 7/3/2019]
CAclubindia
