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input tax credit

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27 November 2008 whether car is eligible capital goods to claim input tax credit if no what is the accounting treatment for input tax & output tax on Purchase & sale of car

27 November 2008 In the definition of Input, Motor car is specifically excluded.
However, in explanation if u are using the motor car within your premises then its input tax credit can be claimed.

27 November 2008 ITC on Car is disallowed.
Input Tax is included in cost of purchase of car.
there is not output tax on sale of car.




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