30 October 2017
Dear experts,
I have a courier agency. And I give local delivery of courier and parcel. And for my service issue bill @18% gst.
Pls tell me can I take input tax credit of commercial vehicle if I purchase for local delivery.
If yes than how in input or capital goods if no than why?
31 October 2017
Yes....
You can use the Full ITC...
Also you can account the basic value as your Fixed asset.....
(5) Notwithstanding anything contained in sub-section (1) of section 16 and subsection
(1) of section 18,
input tax credit shall not be available in respect of the following,
namely:—
(a) motor vehicles and other conveyances except when they are used––
(i) for making the following taxable supplies, namely:—
(A) further supply of such vehicles or conveyances ; or
(B) transportation of passengers; or
(C) imparting training on driving, flying, navigating such vehicles
or conveyances;
(ii) for transportation of goods;
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