Itc on vehicle

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 March 2018 I own sole proprietor firm,i have purchased vehicle for personal use in name of my firm so can i claim ITC under gst if no then what entry to be passed in books of accounts.

CA Suresh Jain

CA Suresh Jain (Expert)
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30 March 2018 No, you can not claim ITC against GST paid on motor vehicle for your personal use. The entry shall be - Debit Vehicle Account under Fixed Assets for full value of the bill and Credit - Bank account from which you made the payament

Querist : Anonymous

Querist : Anonymous (Querist)

30 March 2018 Sir
Thanks for reply.While Filing GSTR1 Purchaser will file with my gst details so automatically my account will be credited with itc so what i should do now

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