ITC ON VEHICLE
Priyokumar Thounaojam (148 Points)
20 April 2019
how to claim itc for vehicle purchase for transportation.
3 Replies
CA. Punith Harish
(PRACTICING CHARTERED ACCOUNTANT)
(445 Points)
Replied 20 April 2019
As per section 17 (5) input tax credit shall not be available in respect of the motor vehicles and other conveyances, however, following are the exceptional to the same –
- Motor vehicles and other conveyances used for making following taxable supplies –
- Further supply of such vehicles or conveyances;
- Transportation of passengers;
- Imparting training on driving, flying, navigating such vehicles or conveyances.
- Motor vehicles and other conveyances that has been used for transportation of goods.
If you are using the vehicle for transportation business you can consider the same as capital assets and claim the ITC on the same.
Priyokumar Thounaojam
(148 Points)
Replied 20 April 2019
i ve purchase tanker for my petrol pump. can i avail itc at one time.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 21 April 2019
Yes you can avail ITC at one shot
Recent Topics
- Nznxnc call me at the end of the day of the
- Cp chod doob zoom vo book book
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
Related Threads
CAclubindia
