Accounting in gst for demo motor vehicles

Vikas Jindal (Student CA Final ) (22 Points)

04 December 2018  

What should be the accounting of a motor vehicle if it is received by the authorised dealer as a demo vehicle from the manufacturer specifically only to be used as a demo to the customers for test driving. whether its ITC can be claimed under GST or not? Also what will it be qualified as? Whether it is a asset or anything else/