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Input credit on purchase of vehicle

18 January 2018

Our company is doing business in exports of agriculture products.Recently we have purchased motar vehicle for official use & paid Gst as well as cess . can we claim input on the same on Gst amount & cess amount? what are the conditions to be fulfilled for availing credit in this cases

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9 Replies

jitender gajrani (ca - ipcc) (35 Points)
Replied 18 January 2018

Hii

you can claim input tax credit on purchase of vehicle.the condition has to be fulfiled

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D.P.Pattnaik (manager( taxation)) (100 Points)
Replied 18 January 2018

I am not agree with the reply of Gagrani JI. As per sec-17(5) of GST Act purchase of vehicle & GST there on is coming under negative list & can not be taken as credit. But in case of organisation who purchase the same for further supply of the same can take the credit of the same.

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Trilochan Singh Arora (Korba) (314 Points)
Replied 18 January 2018

I agree mr patnaik sir

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addanki deepika (50 Points)
Replied 18 January 2018

I don't agree to pattnik
as motor vehicle is used for business
ITC can be claimed if depreciation on it is not provided

rajesh chowdary (student) (118 Points)
Replied 18 January 2018

No you are not eligible to claim input tax credit even though the vehicle used for business purpose.whatever the Gst&cess u have paid book it as an expenditure and consider as a cost.check negative list.of input tax credit.