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.
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
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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