input tax credit
Abhishek Jain (27 Points)
01 September 2018
i have purchased a motor cycle in the name of my firm.....will i be eligible for ITC ???
6 Replies
ANKIT SACHDEVA
(A/c Manager at Pallavi Rajput & Co. (Chartered Accountants))
(244 Points)
Replied 01 September 2018
No, you can not claim the ITC of GST paid on purchase of Motor bike for office use in the field. Please refer the following relevant excerpt of CGST Act Section 17 (5) (a)
Notwithstanding anything contained in sub-section (1) of section 16 and sub- section (1) of section 18, input tax credit shall not be available in respect of the following, namely:—
(a) motor vehicles and other conveyances except when they are used–– (i) for making the following taxable supplies, namely:—
(A) further supply of such vehicles or conveyances ; or
(B) transportation of passengers; or
(C) imparting training on driving, flying, navigating such vehicles or conveyances;
(ii) for transportation of goods
Abhishek Jain
(27 Points)
Replied 01 September 2018
but motor cycle is not covered in the definition of motor vehicle
Shivam RC
(Student)
(23683 Points)
Replied 01 September 2018
Not eligible for ITC since it is specifically Blocked u/s 17(5) of CGST Act 2017.
ANKIT SACHDEVA
(A/c Manager at Pallavi Rajput & Co. (Chartered Accountants))
(244 Points)
Replied 01 September 2018
Depnds Upon power of engines in CC. bike comes within the motor Vehicle
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 01 September 2018
No U R not eligible to take ITC , its block u/ 17(5)
Shivam RC
(Student)
(23683 Points)
Replied 01 September 2018
Refer the definition of CONVEYANCE u/s 2(49) of CGST Act 2017 which includes Vehicle.
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