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 ?
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ITC on Motor car Purchase
Replies (6)
for what purpose car will be use for?
personal purposes
No you cannot claim itc for personal purpose
ok .............
No ITC will be available for the goods/ services used for personal purposes.
ITC not available on Motor Vehicles as it is Blocked u/s 17(5) of the CGST Act 2017...
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