ITC of Lorries purchased and availability for forward billing

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This discussion clarifies the eligibility of Input Tax Credit (ITC) for businesses involved in goods transport. It confirms that ITC can be claimed on lorries purchased and used for transport contracts, even when other lorries are also hired for the same contract. This applies to contract bills raised on a forward charge basis.

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(Querist)
19 March 2023 We are doing goods transport agency, and also puchased 5 lorries and availed input for the same.
And now for Transport contract we will use other lorries also i.e we use to hire others lorries also
Question is can we set off our ITC for contract bill raised on forward charge basis
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 March 2023 Yes, it can be set off.
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shreyas kondapur

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shreyas kondapur (Querist)
19 March 2023 What is we use other party lorries too for that transport contract along with ours
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 March 2023 No problem you can claim ITC.
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