Fixed assets under GST
This query is : Open
Mohammad Muzammi
(Querist)
19 September 2017
Dear experts
Shall we claim ITC on Fixed assets Purchase ex... Vehicles, computers
if yes what's are provision
19 September 2017
ITC can be claimed on fixed assets provided they are used or intended to be used in the course of or furtherance of business. As far as motor vehicles are concerned, ITC is not available unless they are used for taxable supply of such vehicles, transportation of goods or passengers.
19 September 2017
You can use your business then you can avail the ITC for the computer...
Also vehicles ITC as related businesses assessee can use the ITC. Otherwise not available....
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