ITC
This query is : Resolved
29 November 2018
Dear experts,
I am handling proparitor ship account the query is my boss brought new cars in the name of personal without GST Number.
can I take tax benefit in ITC
30 November 2018
ITC is not permissible.
30 November 2018
No ITC cannot be availed.
ITC can be availed only when the goods or services are used for doing business or providing services. And in the current case, it looks like your boss has bought the car for personal use, so there arises no question of availing credit for the same.
If the car is bought in the personal name and not in the name of the business and without giving the GST no., the credit for tax paid will not reflect in GSTR 2A on GST portal. The GST paid by the Car dealer would have gone in B2C and not B2B.
ITC can be availed only when the goods or services are used for doing business or providing services. And in the current case, it looks like your boss has bought the car for personal use, so there arises no question of availing credit for the same.
If the car is bought in the personal name and not in the name of the business and without giving the GST no., the credit for tax paid will not reflect in GSTR 2A on GST portal. The GST paid by the Car dealer would have gone in B2C and not B2B.
02 December 2018
Input Tax Credit is not availbale in case of Motor Vehicals except they are dealing in Motor Vehical Bussiness
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