sir we bought one bike,we are regular dealer so any chance
we claim gst tax please suggest me thanking you sir
GST input claim
tenali yaswanth (39 Points)
01 June 2018
11 Replies
Dayananda Kakade
(Deputy Manager -Finance)
(328 Points)
Replied 01 June 2018
No credit on motor vechile
CA Naveen Chand
(Chartered Accountant)
(12734 Points)
Replied 01 June 2018
ITC is not available for motor vehicles and conveyances.
For example, XYZ & Co. buys a car for their business. They cannot claim ITC on the same.
Exceptions to ITC on motor vehicles
ITC will be available when the vehicle is used for the following.
a) Supply of other vehicles or conveyances
If you are in the business of supplying cars then ITC will be available.
For example, a car dealer purchases a car for Rs.50 lakh plus 14 lakh GST (ignoring cess calculations). The same car was later sold for 70 lakhs along with Rs.19.60 lakh GST. Since he is a dealer, he can claim ITC of 14 lakhs and pay only Rs.5.60 lakh (19.60 – 14).
b) Transportation of passengers
If you are providing transportation of passengers then ITC will be allowed on the vehicle purchased.
For example, Happy Tours purchased a bus for inter-city transport of passengers. ITC is available.
c) Imparting training on driving, flying, navigating such vehicle or conveyances
A driving school purchases a car to give training to students. The school can claim ITC on the GST paid on the car.
d) Transportation of goods
ITC will be allowed on motor vehicles (and other conveyances) used to transport goods from one place to another. However, this is concerning other transporters and not goods transport agencies (GTA).
aman
(student)
(38 Points)
Replied 01 June 2018
dear tenali u can take gst input
if u have manufacturing business
and u show that motorcycle use for movement if goods
if u have manufacturing business
and u show that motorcycle use for movement if goods
P.Venkata Rishvitha
(Article student)
(31 Points)
Replied 01 June 2018
As you are a regular dealer dealing in sale of motor vehicles you can claim input on the bike purchased
CA Naveen Chand
(Chartered Accountant)
(12734 Points)
Replied 01 June 2018
| Originally posted by : P.Venkata Rishvitha | ||
 |
As you are a regular dealer dealing in sale of motor vehicles you can claim input on the bike purchased |  |
yes agreed !!
Raj Chaurasia
(273 Points)
Replied 02 June 2018
u can take credit . As as per sec 17(5) if motor vehicle is being used for further taxable supply, it is out of scope of Blocked Credit.
SIDRAMAPPA A
(Accountant )
(78 Points)
Replied 02 June 2018
As you are a regular dealer dealing in sale of motor vehicles you can claim input on the bike purchased
If you used relating to business than you can take 100% input credit
Recent Topics
- PAYMENT OF RCM under gst
- Tally Entry On Accounting Payables
- When to register as a representative assessee?
- LTCG immovable property sale
- Ewaybill generation for Return of Goods From Exhib
- A foreign entity engages some persons for doing th
- Property late registration selling now
- REQUIRED DELHI BASED LOGISTICS COMPANY 2 YRS OLD
- Rebate under 87A - STCG right to property
- GST RFD-01
Related Threads
CAclubindia
