Dear frds / experts,
In the case of small scale industries, GST number will be in the name of proprietor 's name. My doubt is,
1) Can we able to claim ITC , if that proprietor purchases car and bill is in the name of proprietor??
2) If monthly GST is within Rs.10,000/-, whereas ITC claim is 4,00,000/- , then Shall we able to claim ITC in cash refund?? If so, what is the procedure?
Plz treat very urgent and hope you do needful at the earliest.
Thanks,
-Maya.
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Gst - doubt
Replies (4)
(1) as per section 17(5)(b) of cgst amendment act No ITC shall be available on Purchase of Motor vehicle for Transportation of persons having approved seating capacity not more than 13 persons (icnl driver seat).Hence NO ITC on Purchase of Car.
(2) No cash refund for Rs.390000 shall be available.this balance shall be carry forward for Next return Period and adjusted against excess output tax if any.
agree with pankaj sir answer
Thank u so much sir....
its my pleasure dear.
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