Input on capital goods
This query is : Open
11 October 2017
Having a vehicle which is being used in the business & capitalised, can GST on it can be claimed as input & claim refunded? & if yes how it will be refunded like in one amount or in parts?
Thank you
Thank you
11 October 2017
If the vehicle is used for transportation of goods in the business , then only GST credit can be availed and can be availed fully.
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12 October 2017
Input available only if that vehicle is supplied further, used for transportation of passengers or used for providing driving training and transportation of goods.
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12 October 2017
yes it will be used in transportation of goods in the business, I read somewhere, this credit will be refunded in 60 months is this correct? or it will be refunded after completion of financial year?
12 October 2017
Dear CA Lalit.,
You can avail 100% in single take under GST...
But,
Simple Condition The vehicle using "Furtherance of Business".....
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