In a partnership firm if any partner purchase a motor car on company name & shows as capital asset then may they claim ITC on purchase of motor car in their 3B return ?
6 Replies
om sarma
(Independent Accountant)
(37 Points)
Replied 27 January 2019
for what purpose car will be use for?
pritesh
(CA Final student)
(7101 Points)
Replied 27 January 2019
No you cannot claim itc for personal purpose
Vinod Babu
(24191 Points)
Replied 27 January 2019
No ITC will be available for the goods/ services used for personal purposes.
Shivam RC
(Student)
(23683 Points)
Replied 27 January 2019
ITC not available on Motor Vehicles as it is Blocked u/s 17(5) of the CGST Act 2017...
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