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Regarding Itc

03 September 2020

sir I am the sole prop of the firm and holding gst now I have purchased a vehicle in my personal name Sir I want to know that I shall take the itc of gst paid on the said purchase of said vehicle.

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4 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 03 September 2020

No , Can not take Input Tax credit as per section 17(5) of the CGST act 2017 .

please confirm with others also .

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 03 September 2020

No, you can not take ITC as per GST Act, 2017.

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 03 September 2020

No, it is a blocked credit. Not to be claimed.

Taha (T) (405 Points)
Replied 03 September 2020

Vehicle whether in personal or buisnes name is ineligible for itc except for goods transport eg trucks and for further supply for eg u are in buisness of sale of vehicles and last exception is for driving school