mahesh chitpur (nothing) (59 Points)
12 April 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 12 April 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 13 April 2021
| Originally posted by : mahesh chitpur | ||
 |
whether itc is available on repair & maintenance of vehicles used for business purposes & also itc insurance of vehicles |  |
Such input tax credits (even if used for business purpose) are specifically disallowed u/s 17(5) of CGST Act unless you are into the following:
i. Further supply of motor vehicles
ii. Transportation of passengers
iii. Imparting training on driving of such motor vehicle
iv. Imparting training on navigating / flying such vessels or aircraft
v. Transportation of Goods
For more details, refer section 17(5) of CGST Act.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
