Input tax credit on purchase of vehicle
This query is : Resolved
20 March 2019
Hi sir,
We are doing trading business of mobiles and accessories. We want to purchase a vehicle,
So can we claim the GST input credit on purchase of vehicle for business.
If we rent to another company then can we claim the input tax credit or not???
Please suggest me....
We are doing trading business of mobiles and accessories. We want to purchase a vehicle,
So can we claim the GST input credit on purchase of vehicle for business.
If we rent to another company then can we claim the input tax credit or not???
Please suggest me....
20 March 2019
No ,
You can not claim ITC . You are not doing business of vehicle / renting vehicle .
As per Sec 17(5) of the Act - supplies on which Input Tax credit is not available are :-
1. Motor vehicles and other conveyances except when they are used
a) For making further supply of such vehicles or conveyances
b) Transportation of passengers
c) Imparting training on driving, flying, navigating such vehicles or conveyances
d) For transportation of goods.
You can not claim ITC . You are not doing business of vehicle / renting vehicle .
As per Sec 17(5) of the Act - supplies on which Input Tax credit is not available are :-
1. Motor vehicles and other conveyances except when they are used
a) For making further supply of such vehicles or conveyances
b) Transportation of passengers
c) Imparting training on driving, flying, navigating such vehicles or conveyances
d) For transportation of goods.
21 March 2019
ITC not available on Vehicles
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
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- Last year TDS Claim
- LTCG on switch of units
- Salary and pension received from Asian Development Bank
- Short Term Capital gain on shares bought and sold after 2018 onwards
- One Post a Week Done Right Beats Seven Done Wrong
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 2 Short Term gain & Long term gain
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
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
