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ITC on purchase of boat

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(Querist)
09 June 2021
Dear Sir,

Our company has purchased diving boat for business in march' 21 , cost of Rs.35 . Shall i take ITC on purchase invoice this FY 2021-22 . i can take full itc or Partly.

Kindly advice.

Brdgs

R.S.Pandi
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CA Altamush Zafar

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CA Altamush Zafar (Expert)
09 June 2021 How will it be used for business ?
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R S Pandi

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R S Pandi (Querist)
09 June 2021 sir,
this boat ( 13 seater ) for diving purpose.



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CA Altamush Zafar

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CA Altamush Zafar (Expert)
09 June 2021 I believe this boat will come under the meaning of vessel and there are restrictions on taking ITC on it. Check section 17(5)(aa)

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