Dear Team,
Could you help me with the following query.
1. Can the car rental company take input credit of Gst amount paid on purchase of cars.
5 Replies
CA K.Srividhya
(Chartered Accountant)
(279 Points)
Replied 12 April 2022
Input tax cannot be claimed
Kesavaraj S
(578 Points)
Replied 12 April 2022
Yes...ITC can be claimable because it is car is purchased for the business purpose...
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 13 April 2022
In my opinion, ITC can be taken because the car will be used for the transportation of passengers.
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 22 April 2022
ITC on purchase of cars can be claimed for using such cars for rentals.
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