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Input tax credit

Dibyendu Kumar Majumder (42 Points)

03 July 2020

I have a cab business If I purchase a vechile without commercial number I will get a input tax credit or not.

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9 Replies

yoga M (12 Points)
Replied 03 July 2020

Hi sir 👋
please tell me one thing
have you purchased for personal purposes

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Fazil Ahmad (75 Points)
Replied 03 July 2020

Itc Available for 13 seater or more

yoga M (12 Points)
Replied 03 July 2020

ITC available when it has more than 13 seats capacity including driver and it's used transportation of passengers.

Vikas Sharma (67 Points)
Replied 04 July 2020

No itc on persanal use.

Hemal Makwana (Designation) (771 Points)
Replied 05 July 2020

What is commercial number? since u r in can business and cab purchased by if used for purpose specified in Section 17(5),.u can avail. ITC

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Fazil Ahmad (75 Points)
Replied 05 July 2020

Hemal is right in cab business you can claim itc on any vehicle if you are going to use it for business purposes

Vikas Sharma (67 Points)
Replied 05 July 2020

I said .. no itc on personal use.

CA Rashmi B (Assistant Manager) (787 Points)
Replied 05 July 2020

If the car/ vehicle is purchased for the further supply of service I. e cab service the ITC can be availed with respect to the same. However the credit of compensation cess which would be charged for the cars would not be eligible as credit. only CGST + SGST / IGST would be eligible.