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itc in gst
purchase new car battery from registered dealer and gst paid for this is eligible for set off. car is business asset
Replies (5)
Hello Kaushal,
You can't take credit of any vehicle if you are not in the same line of Business, as it is specially excluded by GST Act.
Same line of business means Trading of car Business and Car Rental Service (like OLA).
Thanks
Even car accessories, car insurance etc. are not eligible for ITC as per GST Act
ok thanks. but can I claimed this as expenses as repair and maintenance and claimed gst as itc
No, any ITC related to Vehicle is not allowed, whether it is repair or maintenance, insurance, car accessory or any other expense.
as per new amendment the vehicle capacity is more than 13 you can take ITC for all maintenance expenses and purchase of new car.
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