Buy scooter in name of my company
This query is : Open
12 July 2017
If I buy Scooter in name of my company name with GSt number can I get credit for its
12 July 2017
No you cant.
12 July 2017
Company can get credit it's propriety firm
12 July 2017
Then your question is not clear. you mentioned buying scooter in company name. Now you are saying it is a proprietorship. Did you mean whether you can claim credit as a Proprietorship? I believe yes, because the proprietorship doesn't have an identity different from the proprietor. You will have to demonstrate use of the asset for business purpose alone which may be difficult. Hence credit can be claimed over useful life of the asset
12 July 2017
As per Sec 17(5) You can't claim credit of vehicle until used for providing taxable supplies or transport of goods.
So if scooter is for personal use then you can't claim ITC.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
