ITC on Excavator
This query is : Resolved
Quick Summary
CA Parag Shah
(Querist)
30 September 2021
We are in business of mining and quarrying. For business we are going to buy an excavator, should we claim ITC of the same? Is ITC on excavator fall under restricted credit that we can not claim and does Excavator fall under "motor vehicle" as per motor vehicle act.
CA R SEETHARAMAN
(Expert)
30 September 2021
It will not fall under restricted credit.
ITC can be claimed on such excavator.
ITC can be claimed on such excavator.
Udaya Chandran
(Expert)
30 September 2021
ITC on motor vehicles which are used for transportation of persons and having seating capacity less than 13 persons, not available as per the Act.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- GST ITC as per notification 12/2023- central tax
- Gift to nri relatives resides in usa
- Capital Gains Tax on Inherited Mutual Fund
- Form 144 TDS Return Validation Error – Mandatory Fields
- Form 144 TDS Return Validation error
- LLP audit and disclosure
- Applicability of tax on invoice
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
