Transfer of vehicle under lease to GTA
SHIVANNA.M.H. SHIVANNA.M.H (33 Points)
13 August 2022
please clarify about input on purchase of vehicle
5 Replies
Aanchal Aggarwal
(76 Points)
Replied 13 August 2022
Hi Shivanna!
As a general rule ITC on purchase on vehicles is not allowed with exceptions for those who are in transportation business etc. Please specify the purpose and business.
Thanks
CA Aanchal Aggarwal
SHIVANNA.M.H. SHIVANNA.M.H
(33 Points)
Replied 13 August 2022
Vehicle purchase for transport Business and to be leased to GTA URD
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 13 August 2022
Which vehicle & seating capacity of vehicle.
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 13 August 2022
If it is a vehicle designed for transportation of goods then ITC available
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