Motor Vehicle Credit
Khan & Associates (73 Points)
26 November 2018
If i am purchasing a car for Business marketing purpose only, can i take credit of Motor Vehicle Purchase invoice
1 Replies
Hitesh
(Student)
(3549 Points)
Replied 26 November 2018
Notwithstanding anything that sub-section (1) of section 16 and subsection (1) of section 18 contains, ITC will not be available in respect of the following, namely:
motor vehicles and other conveyances apart from when they are used–
for transporting the goods; or
for making the following taxable supplies, namely:
further supplying such vehicles or conveyances; or
transporting the passengers; or
imparting training on driving, navigating, flying such vehicles or conveyances;
If you are using motor vehicle for the above mentioned purposes then credit is available else credit is blocked
motor vehicles and other conveyances apart from when they are used–
for transporting the goods; or
for making the following taxable supplies, namely:
further supplying such vehicles or conveyances; or
transporting the passengers; or
imparting training on driving, navigating, flying such vehicles or conveyances;
If you are using motor vehicle for the above mentioned purposes then credit is available else credit is blocked
Recent Topics
- FORM 10 IEA IN Revised return
- ITC Eligibility on GTA
- Top Highest Tax-Paying Celebrities: FY 2023-24
- Misplace society Bye law
- Submit ommited invoice of previous year
- Need your valueble insight
- GSTR-9 Invoices
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
Related Threads
CAclubindia
