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Input Tax credit on Service charges of motor Vehicles

Rajiv (Senior Accounts Officer) (1548 Points)

12 September 2018

Experts can we take itc of service charge of Motor Vehicle [ for GOods Transportation] as per letest amendment in Gst Act Under 17(5) update as on 30 august 2018 ???

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7 Replies

Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 12 September 2018

Recent amendments are yet to be affected.

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Rajiv (Senior Accounts Officer) (1548 Points)
Replied 12 September 2018

when it will be affected ?????

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 12 September 2018

Only when CBEC notify by issuing Notification

Its Given in the Act the applicability of this act will be come into force only when Govt. notify

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Rajiv (Senior Accounts Officer) (1548 Points)
Replied 13 September 2018

n present situation of rule can we take itc on it

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 13 September 2018

IF IT IS USED FOR GOODS TRANSPORTATION THEN, YES YOU CAN CLAIM ITC

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Rajiv (Senior Accounts Officer) (1548 Points)
Replied 14 September 2018

Sir can you please tell me that what is the difference between present and amended gst act regarding Section 17(5),

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 14 September 2018

CURRENT LAW: INPUT TAX CREDIT SHALL NOT BE AVAILABLE IN RESPECT OF THE FOLLOWIN

(A) MOTOR VEHICLES & OTHER CONVEYANCE

AMMENDED LAW:1. MOTOR VEHICLES FOR TRANSPORTATION OF PERSONS HAVING APPROVED SEATING CAPACITY NO MORE THAN 13 PERSON : MEANS ON VEHICLE MORE THAN 13 PERSON SEATING CAPACITY CAN AVAIL ITC . EG.IF CO.PURCHASE BUS FOR HIS EMPLOYEES CONVEYANCE, THE ITC OF TAX PAID ON SUCH BUS PURCHASE WOULD BE AVAILABLE

2.THEY HAVE DEFINE SERVICES IN REGARD TO MOTOR VEHICLE ie INSURANCE,SERVICE,REPAIR & MAINTENANCE RELATE TO MOTOR VEHICLE ,VESSELS IS BLOCK

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