my car is purchased under my firm name.
my question is whether I can claim ITC if i purchased new TYER'S for this car
Under section 17(5) of CGST Act, there are certain supplies on which input tax credit under GST is not available. These supplies can also be said as blocked credit.
That includes:
Motor vehicles and other conveyances except when they are used
a) For making further supply of such vehicles or conveyances
b) Transportation of passengers
c) Imparting training on driving, flying, navigating such vehicles or conveyances
d) For transportation of goods.
Hence, if Car has been being used for transportation of Goods in your business and if on that basis, if you have taken ITC of GST on Car. The same shall be applicable to motor accessories.
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