Input Tax Credit Eligibility for Construction Equipment Vehicles
This query is : Resolved
backup 1989
(Querist)
19 June 2024
Input Tax Credit Eligibility for Construction Equipment Vehicles
**Question for Expert:**
We own multiple construction vehicles (JCBs, Pokelands, trucks, dumpers) and frequently purchase tires and other parts for them. Are we eligible to claim Input Tax Credit (ITC) on these purchases under GST? If so, are there any specific conditions or documentation requirements we need to fulfill?
Thank you.
**Question for Expert:**
We own multiple construction vehicles (JCBs, Pokelands, trucks, dumpers) and frequently purchase tires and other parts for them. Are we eligible to claim Input Tax Credit (ITC) on these purchases under GST? If so, are there any specific conditions or documentation requirements we need to fulfill?
Thank you.
CA R SEETHARAMAN
(Expert)
20 June 2024
Yes, you are eligible to claim ITC on these purchases under GST provided you are registered under GST and your are charging GST on your service provided.
Invoice required to claim ITC and ITC should reflect in your GSTR 2b.
Invoice required to claim ITC and ITC should reflect in your GSTR 2b.
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 Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Intimation under section 245
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Urd purchase entry in tally prime
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
