1 Replies
Meenakshi S
(Self employed)
(198 Points)
Replied 18 February 2019
hello,
ITC is not available on the purchase of the car.
Exceptions to ITC available under following situations:
1) If you are in the business of supplying cars then ITC will be available.
2) If you are providing transportation of passengers then ITC will be allowed on the vehicle purchased.
3) A driving school purchases a car to give training to students. The school can claim ITC on the GST paid on the car.
4) ITC will be allowed on motor vehicles (and other conveyances) used to transport goods from one place to another. However, this is concerning other transporters and not goods transport agencies.
you can also read this article for more clarification https://www.indiafilings.com/learn/input-tax-credit-on-motor-vehicle/
thanks
Recent Topics
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
- GST audit and scrutiny
- GSTR9 Table 8 - 8A and 8B difference is 4D(1). in
- Eway Bill query for inter state
Related Threads
CAclubindia
