input tax credit under gst
This query is : Open
30 October 2017
Dear experts,
I have a courier agency. And I give local delivery of courier and parcel. And for my service issue bill @18% gst.
Pls tell me can I take input tax credit of commercial vehicle if I purchase for local delivery.
If yes than how in input or capital goods if no than why?
30 October 2017
Yes you can take ITC as same is for delivery of goods.
Message likes :
1 times
30 October 2017
ITC available on vehicles it it is used for transportation of goods in your case.
Message likes :
1 times
30 October 2017
CA Rashmi Gandhi G In itc Can i Calim it in same month all or claim as capital goods in 60 shares in 60months
30 October 2017
You can take full credit in the same month when it is purchased.
Message likes :
1 times
30 October 2017
You can claim whole ITC in same month....
Message likes :
1 times
31 October 2017
Mam please tell me is vehicle a capital good for me or not please explain in detail I am confuse in this
31 October 2017
Vehicle is capital good & no ITC available for vehicle as per Sec 17..….....
31 October 2017
Yes....
You can use the Full ITC...
Also you can account the basic value as your Fixed asset.....
(5) Notwithstanding anything contained in sub-section (1) of section 16 and subsection
(1) of section 18,
input tax credit shall not be available in respect of the following,
namely:—
(a) motor vehicles and other conveyances except when they are used––
(i) for making the following taxable supplies, namely:—
(A) further supply of such vehicles or conveyances ; or
(B) transportation of passengers; or
(C) imparting training on driving, flying, navigating such vehicles
or conveyances;
(ii) for transportation of goods;
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
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Applicable TDS for Purchase of Flat from NRI
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Annual return of gst limit
- Form 10BD Filling
- Registration as Authorised Representative of minor
- ESIC- Employee Registration
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
