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?
CA Rashmi Gandhi
(Expert)
30 October 2017
Yes you can take ITC as same is for delivery of goods.
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Udaya Chandran
(Expert)
30 October 2017
ITC available on vehicles it it is used for transportation of goods in your case.
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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
Udaya Chandran
(Expert)
30 October 2017
You can take full credit in the same month when it is purchased.
Message likes :
1 times
CA Rashmi Gandhi
(Expert)
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
CA Rashmi Gandhi
(Expert)
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;
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