Goods Transport Vehicle

214 views 2 replies

Respected Sir,

If 3 wheeler vehicle dealer purchased one goods transport vehicle for same firm as capital assets.for business use.

1.Is there GST application same firm because same firm is purchaser and Seller ?

Please guide me how to do accounting and GST Treatment.

 

 

Replies (2)
As it's trasport vehicle, u can claim ITC.
Capitalised the same in your books of account, if its capital asset for u
Sec 17(5) blocked credit is applicable, cannot claim ITC

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