Capital goods itc
This query is : Resolved
11 August 2017
Sir/Madam,
Our client has bought new vehicle for business purpose before gst. Now the question is, it ITC can be claim in from Tans - 1.
Please advise me.
Our client has bought new vehicle for business purpose before gst. Now the question is, it ITC can be claim in from Tans - 1.
Please advise me.
11 August 2017
If the new vehicle is purchased before 30/6/17 then he cannot claim ITC in TRAN 1.
If the new vehicle is a motor Car / two wheeler and purchased after 1/7/17 ITC you are not eligible to claim ITC on the same.
If the new vehicle is a vehicle used for transportation of Goods and purchased after 01/7/17 you can claim ITC of GST on the same.
VK
If the new vehicle is a motor Car / two wheeler and purchased after 1/7/17 ITC you are not eligible to claim ITC on the same.
If the new vehicle is a vehicle used for transportation of Goods and purchased after 01/7/17 you can claim ITC of GST on the same.
VK
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on selling redeveloped resi property
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
