Hi Friends,
we are under security agency and we have purchased on two wheeler for office purpose,whether can I consider input tax credit on the same.
pls confirm the same and notification pls refer the same.
GIRI A
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Clarification on input credit
Replies (3)
Not allowed as blocked credit s*x 17(5)
sir,
can you please explain the same
can you please explain the same
As per section 17(5)
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;
Hence if vehicle is used other then above specified ITC cannot be claim
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;
Hence if vehicle is used other then above specified ITC cannot be claim
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