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input tax on truck highwa please brief

Manbir Singh (7 Points)

10 September 2018

can we take input tax credit on truck on time ?

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Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 10 September 2018

Truck on time?

Can take credit subject to Sec:16 as well as if transporter charging GST @ 18% for expenses bill.

Case of Capital Asset :

As per section 17(5) of CGST Act, input tax credit will not be available in respect of motor vehicles and other conveyances, except when

such motor vehicles or other conveyances are supplied further, or

used for transportation of passengers or giving training on driving, flying, navigating such vehicles or conveyances or

are used for transportation of goods.

Hence, if your firm does a business that falls under any of the categories mentioned above, it can claim the input tax credit.

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 11 September 2018

plz , your query is not clear ....post again

Vinod Babu (24191 Points)
Replied 11 September 2018

What is your nature of business?
Please brief your query.

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Manbir Singh (7 Points)
Replied 11 September 2018

thanks Rohit g

I mean to say . I have a firm of contractor . I purchased two new Mahindra truck on firm . these of my capital goods . I paid 14 Lakh of GST . may I take itc refund any time ya rule of capital goods
you have 2 Multipley 60 months

please brief Rohit g