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Input on capital goods

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(Querist)
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
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CA ANILKUMAR B.COM FCA DISA

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CA ANILKUMAR B.COM FCA DISA (Expert)
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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Udaya Chandran

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Udaya Chandran (Expert)
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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CA Lalit

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CA Lalit (Querist)
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?
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RAJA P M

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RAJA P M (Expert)
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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