Sir
Our compay has received invoice of car purchased along with insurance invoice so kindly guide us how can show in accounts . can we claim input of gst of both condition .
3 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 16 May 2018
No u cannot ITC on car purchase as per section 17(5)
ITC will be available when the vehicle is used for the following.
(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;
ITC will be available when the vehicle is used for the following.
(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;
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 May 2018
Yes I agreed to Mr Pankaj Rawat...
@ Uday Kumar.,
You can book the whole value of the car and it's related expenditure to Fixed Asset...
@ Uday Kumar.,
You can book the whole value of the car and it's related expenditure to Fixed Asset...
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