Input credit of gst on purchase of vehicle
This query is : Resolved
PRATIK KAYAL
(Querist)
08 January 2018
Respected All,
Kindly please suggest can we take Input Credit of GST on purchase of Car ( Say Swift Dzire) for use of Manager of Company and on Trucks purchased for delivering finished goods to parties. Kindly please suggest.
Thanking everyone.
Kindly please suggest can we take Input Credit of GST on purchase of Car ( Say Swift Dzire) for use of Manager of Company and on Trucks purchased for delivering finished goods to parties. Kindly please suggest.
Thanking everyone.
CA R SEETHARAMAN
(Expert)
09 January 2018
ITC can't be taken on car used by manager. ITC can be claimed on trucks used for delivery of finished goods.
09 January 2018
If the car is purchased by the company and the manager uses the car for the official purpose, ITC for GST can be claimed and it will be considered as business expenses.
Vishakha Kejriwal.
(Expert)
09 January 2018
Credit on motor vehicles is specified in the negative list as per Section 17 of the CGST Act and henec not available except when used for transportation of goods as stated therein.
Hence whereas credit on trucks could be taken, ITC is not eligible for car used by the manger.
Hence whereas credit on trucks could be taken, ITC is not eligible for car used by the manger.
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