Dear Experts
Kindly opine on below.
FACTS
Mr.A is dealing in second hand cars where he buys the second hand car and incur expenses on repairs, denting, painting etc to improve the condition of the car and also he incurs expenses on social media advertising to sell the cars.
Mr. A is registered under GST where he follows margin scheme to pay GST and he is paying GST @ 18% on difference between sale price and purchase price.
Question.
1-Can Mr.A claim the ITC on Advertising expenses to pay the GST under margin scheme??
2- Can Mr.A claim the ITC on expenses like denting, painting & repair which is incurred to improve the condition of cars.??
kindly share your detailed views.
thanks
CAclubindia
