itc in gst
kaushal laturiya (article ) (263 Points)
18 March 2019
purchase new car battery from registered dealer and gst paid for this is eligible for set off. car is business asset
5 Replies
CA Ankit Garg
(MD | Genuine Filings)
(781 Points)
Replied 18 March 2019
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
CA Ankit Garg
(MD | Genuine Filings)
(781 Points)
Replied 18 March 2019
Even car accessories, car insurance etc. are not eligible for ITC as per GST Act
kaushal laturiya
(article )
(263 Points)
Replied 18 March 2019
ok thanks. but can I claimed this as expenses as repair and maintenance and claimed gst as itc
CA Ankit Garg
(MD | Genuine Filings)
(781 Points)
Replied 18 March 2019
No, any ITC related to Vehicle is not allowed, whether it is repair or maintenance, insurance, car accessory or any other expense.
Siva Raj
(358 Points)
Replied 18 March 2019
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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