If a truck is purshased for use in own business i.e. carrying of gitti.It is not used for any transportation.wheather ITC is allowed to claim under GST.
Is it covered by section 17 (5) CGST act ?
Menu
Input Tax Credit
Replies (4)
Can you be more specific.. what is gitti
Yes you can claim ITC Its being using for tranporting Gitti , & i assume you deals in supplying Giti
As per sec 17(5) gst paid on vehicles are not allowed as ITC only when the vehicles are not used in furtherance of business.
If you are using the vehicle to carry gitti stone which you are dealing in then you are eligible to claim ITC.
If you are using the vehicle to carry gitti stone which you are dealing in then you are eligible to claim ITC.
Yes Sir...
You can claim INPUT TAX CREDIT on Truck purchased as it is being used in the course or furtherance of business for transportation of goods.
Blocked Credit [ i.e. SECTION 17(5) ] is not applicable in your case.
You can claim INPUT TAX CREDIT on Truck purchased as it is being used in the course or furtherance of business for transportation of goods.
Blocked Credit [ i.e. SECTION 17(5) ] is not applicable in your case.
Recent Threads
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
- Regarding cancellation of GST Number
- GST on business receipts pre -registration
- A Restaurant registered under the Composition Sche
Related Threads
CAclubindia
