Motor car purchase
Sovon Sett (Accountant) (41 Points)
14 November 2023Sovon Sett (Accountant) (41 Points)
14 November 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14167 Points)
Replied 14 November 2023
Motor Car A/c Dr ( Non Current Asset )
CGST. A/c Dr
SGST A/c Dr
To Trade Creditors A/c Cr
( purchase of Motor Vehicle )
Motor Car A/c under Non-current Asset Balance sheet.
You can not claim Input tax credit on Motor vehicle , because its blocked credit as per section 17(5) of the CGST act , unless you fulfil certain conditions under section 17(5) , so please refer section 17(5) of the cgst act .
CA Altamush Zafar
(GST Consultant)
(15907 Points)
Replied 14 November 2023
RAJA P M
("Do the Right Thing...!!!")
(127171 Points)
Replied 14 November 2023
sabyasachi mukherjee
(26067 Points)
Replied 15 November 2023
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)