Input Tax credit on vehicle maintenance etc
This query is : Resolved
03 April 2021
Dear Expert
A Car ( 5 seater) is purchased by a Private Limited Company. It is an asset in the Company Books. Used only by Companies Director. Can
1. ITC be availed on the purchase invoice of car
2. Can ITC be availed on the maintenance expenditure of the car ( Car servicing, repairs)
3. Can ITC be availed on insurance paid for the car.
Please provide guidance. If possible also mentioned relevant section or notification to look up in this regards.
Thank you for the help in advance.
A Car ( 5 seater) is purchased by a Private Limited Company. It is an asset in the Company Books. Used only by Companies Director. Can
1. ITC be availed on the purchase invoice of car
2. Can ITC be availed on the maintenance expenditure of the car ( Car servicing, repairs)
3. Can ITC be availed on insurance paid for the car.
Please provide guidance. If possible also mentioned relevant section or notification to look up in this regards.
Thank you for the help in advance.
03 April 2021
ITC shall not be available on car purchased by a company under section 17(5) of the CGST Act, 2017.
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07 April 2021
Thank you Sir for the guidance. Please also clarify Can ITC be availed on the
1. Maintenance expenditure of the car ( Car servicing, repairs)
2. Can ITC be availed on insurance paid for the car.
1. Maintenance expenditure of the car ( Car servicing, repairs)
2. Can ITC be availed on insurance paid for the car.
07 April 2021
In view of specific restriction u/s 17(5) the answers to all you queries is no. No ITC whatsoever whether it is on insurance or anything else.
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