Dear experts,
if I am going buy a new car for business purpose shall I take ITC of the GST. plz suggest me
10 Replies
Mukesh Garg
(18 Points)
Replied 21 November 2021
If your business is of Taxi or Car Trianing, then ITC is allowed on Car. If other business, the ITC is blocked in Section 17(5)
sabyasachi mukherjee
(27579 Points)
Replied 22 November 2021
Blocked credit is applicable in the following cases:
1. the querist has not mentioned the nature of business.
2. so sec 17(5) does not apply here.
3. Fixed asset used for the purpose of business other than for transport or carriage, so here itc will be available provided the taxable person is a regular assesse.
1. the querist has not mentioned the nature of business.
2. so sec 17(5) does not apply here.
3. Fixed asset used for the purpose of business other than for transport or carriage, so here itc will be available provided the taxable person is a regular assesse.
Akshay Bhat
(Tax Consultant)
(20 Points)
Replied 27 November 2021
Can anyone here solve my issue.
https://www.caclubindia.com/forum/gst-refund-under-no-change-in-pos-583383.asp
Akshay Bhat
(Tax Consultant)
(20 Points)
Replied 27 November 2021
Can anyone here solve my issue.
https://www.caclubindia.com/forum/gst-refund-under-no-change-in-pos-583383.asp
Harish varun
(224 Points)
Replied 20 May 2022
The GST on cars and motorcycles is kept within the 28% threshold, and the Indian government has also announced a list of cess to be paid on various types of automobiles. Cess has been imposed on several types of vehicles, ranging from 1% to 15%. You can claim ITC for GST paid on the acquisition of motor vehicles such as a car if you are in the passenger transportation industry.
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