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Input tax credit

Rohtash Kumar (9 Points)

08 July 2019

Greeting,

Sir can i avail input tax credit on purchase Tyre for commercial vehicle.

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7 Replies

Dinesh Reddy (Professional) (69 Points)
Replied 08 July 2019

If it is using for providing taxable outward supplies, you can avail the input tax credit.

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Mudit Goel (Associate) (22 Points)
Replied 08 July 2019

You can avail the credit of purchase of tyre if

When such motor vehicles are used for

i) further supply of such vehicles or

ii) transportation of passengers or

iii) imparting training on driving of such motor vehicles.

ITC would further be admissible for leasing, renting or hiring of motor vehicles when such motor vehicles are used for above said purposes or where the recipient is engaged in the manufacture of such motor vehicles or in the supply of general insurance services in respect of such motor vehicles insured by him.

Rohtash Kumar (9 Points)
Replied 08 July 2019

If the vehicle is transporation of Goods

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 08 July 2019

Originally posted by : Rohtash Kumar
	If the vehicle is transporation of Goods

Yes... You can if it's fulfilled the conditions of transportation as per sec 17(5)...

2 Like

Shivam RC (Student) (23683 Points)
Replied 13 July 2019

Yes you can avail ITC on Tyre purchased for Commercial Vehicles provided that all the 4 conditions as laid down u/s 16(2) of the CGST Act 2017 have been fulfilled.

Warm Regards.