ITC on car purchase
Mynampati Suresh (70 Points)
16 September 2020Mynampati Suresh (70 Points)
16 September 2020
Deepak Gupta
(CA Student)
(15922 Points)
Replied 16 September 2020
Credit Blocked (1)
Motor vehicle (MV)
- for transportation of persons
- with seating capacity of <= 13 persons (incl. driver)
Exceptions where (1) credit is allowed
When ineligible MV is used for making taxable supply of:
- further supply of such MV (re-sale)
- transportation of passengers
- imparting training on driving such MV
Remarks
- ITC on MV with seating capacity of > 13 persons (incl. driver) used for any purpose is allowed.
- ITC on other MV, other than ineligible MV, like used for transportation of goods, dumpers, used for any purpose is allowed.
Shivam RC
(Student)
(23683 Points)
Replied 16 September 2020
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 16 September 2020
Mynampati Suresh
(70 Points)
Replied 16 September 2020
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 16 September 2020
Shivam RC
(Student)
(23683 Points)
Replied 17 September 2020
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)