INPUT TAX ON COMMERCIAL CAR
This query is : Resolved
20 July 2022
Hi
My client in tour and travel operating business.Currently purchased a vehicle in the name of firm and same is exclusive using for business purpose and now wanna to take input tax credit of Gst .Now my question is input tax on capital goods available in 5 year time period or can take in single time?Kindly guide the calculation of input credit of vehicle (capital goods) in 5 year time period
My client in tour and travel operating business.Currently purchased a vehicle in the name of firm and same is exclusive using for business purpose and now wanna to take input tax credit of Gst .Now my question is input tax on capital goods available in 5 year time period or can take in single time?Kindly guide the calculation of input credit of vehicle (capital goods) in 5 year time period
21 July 2022
You can take ITC in single time.
21 July 2022
But for capital goods 5 year time period mentioned in gst law. Then how can take itc in single time? Any specific provision?
21 July 2022
I think it's changed please check.
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
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Internship/Academic shown in Salary Pay Slip of a Doctor
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- Liable to deduct tds and 44ADA
- 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
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
