ITC avail or not on purchase of motor vechile for transport of own goods
Rajat jain (student) (215 Points)
18 December 2021And can we also claim ITc on insurance or any other modification is done on that vehicle...
Thank u in advance
Rajat jain (student) (215 Points)
18 December 2021
KUMAR SWAMY MASNA
(accountant)
(103 Points)
Replied 19 December 2021
anil jain
(Partner)
(1072 Points)
Replied 21 December 2021
under section 17 (5), blocked credit is for passenger vehicle and not for other vehicle.
Thus itc on insurance too is eligible for credit.