One of my friends bought motor cars ,two wheelers and rented it for a 'tours and travel' company and receiving rent based on agreement between the company. Now my query is how to claim ITC paid on motor cars,two wheelers purchased???
pls help...
Menu
ITC claim on motor vehicle
Replies (8)
you avail the gst credit because it's not covered under block credit which is mention in section 17.
need opinion on method of availing ITC... Shall I take it as capital goods and appropriate over a period of 60 months??
same doubt here can anybody help us
@ Mahesh.,
The Car is given "Tours and Travells" company then You can claim ITC for the purchase of Car... And You can take the ITC in single take...
But, What about the "TWO WHEELER"...?
The Car is given "Tours and Travells" company then You can claim ITC for the purchase of Car... And You can take the ITC in single take...
But, What about the "TWO WHEELER"...?
two wheeler too rented to same company
As per my view.,
It's very different. Bcoz, Except two wheeler we can get Commercial purpose with registration... But, Two Wheeler...?!
It's very different. Bcoz, Except two wheeler we can get Commercial purpose with registration... But, Two Wheeler...?!
The company is not running its own business of tour &travel,but it is merely giving it on rent.So,no ITC is available,be it either 2/3/4 wheeler vehicle
@ RAJ Kamal Singh.,
No such problems...
No such problems...
Recent Topic
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
- ITR-2 Schedule CG: Indexation cost ignored for lan
- INCOME TAX NOTICE 143(2) - FY 2024-2025
- Unable pay Self Assessment Tax - Netbanking and De
- Section 192 2(b) entry in IT return ITR 1
- Rent from redevelopment property
- How to find FMV of inherited gold after selling it
- Happy CA Day!!
Related Topics
CAclubindia
