Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

ITC CLAIM

Ram Kumar Baghel (32 Points)

30 April 2018

Can we claim ITC in GST if we buy a car in a company account?

Reply
Follow
Share

2 Replies

sheik javid (student) (281 Points)
Replied 30 April 2018

Under section 17(5) of GST act . You can cannot claim ITC for vehicle even it is ultimately used for purpose of business. If your business relates to Transportation of passenger and goods you can claim

Upgrade to CAclubindia Pro. Subscribe Now!

Rahul Prajapati (Student) (2282 Points)
Replied 30 April 2018

Section 17(5) of the Central Goods and Services Act, 2017 provides that input tax credit in respect motor vehicles shall not be available except when they are used-

(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;

1 Like