INPUT TAX ON COMMERCIAL CAR
This query is : Resolved
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sachin Alwadhi
(Querist)
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
CA R SEETHARAMAN
(Expert)
21 July 2022
You can take ITC in single time.
sachin Alwadhi
(Querist)
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?
CA R SEETHARAMAN
(Expert)
21 July 2022
I think it's changed please check.
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