05 January 2019
A proprietor of Retail Business, want to purchase a Light Loading Truck for transportation of his trading Goods.
But vehicle invoice issued by Dealer in his personal name and no reference of his firm name is given in the invoice but GSTIN is provided, further a Vehicle loan is also availed in his personal name (due to eligibility issues).
Can he avail ITC of this truck, as this is not under block credit u/s 17(5)...??
I am under impression that he can avail ITC, but just want to be sure.....Kindly help.
05 January 2019
In my view : He can avail ITC as GSTIN Number of firm is given in invoice and vehicle for transportation of goods are not blocked credit . Vehicle loan borrower's name is not relevant under sec 17(5)
CAclubindia
