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Using input credit for payment of GST liability

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associate vice president
121 Points Posted on 13 March 2022
hello,

please find my below query and help me to understand
when a person having the business of providing rental services using a vehicle, purchases a vehicle , can he set off his liability on purchase by the input tax credit he has earned in the same business?

thanks
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On 13 March 2022 at 11:18 Report
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915 Points Posted on 13 March 2022
But he do not supply the same with its ownership,so he can not claim ITC for the rental purpose of service, (it is my opinion only, u may accept opinion of experters in this regard).
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On 13 March 2022 at 13:46
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GST Consultant
15986 Points Posted on 13 March 2022

Tweak the contract or arrangement of providing transportation service then ITC will be available.

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On 13 March 2022 at 17:37
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915 Points Posted on 13 March 2022
Is it may claimed from service ITC instead of goods ITC?
is it Purchase of second hand vehicle?
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On 13 March 2022 at 22:34
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Student CA Final
47 Points Posted on 13 March 2022
I think ITC will be available as the business requires vehicles as a principal asset and tax paid on purchase of an asset on which our business depends majorly should be allowed as ITC..
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On 13 March 2022 at 23:05


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