ITC ON REPAIR AND INSURANCE OF VEHICLE

This query is : Resolved

Leo A/cs (Querist)
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03 January 2022 Our Company has purchased Bus(used for Staff) and Truck ( used for transportation of Material) . My query is related to av ailment of ITC over below expenses :-
1. Can ITC be availed on the maintenance & Servicing expenditure of both Vehicles.
2. Can ITC be availed on insurance paid for both Vehicles.
Please provide guidance. If possible also mentioned relevant section or notification to look up in this regards.

With Regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 January 2022 1 and 2 ITC available in both the cases.

See the link.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://taxguru.in/goods-and-service-tax/itc-hiring-bus-seating-capacity-13-person-transportation-employees.html%3Famp&ved=2ahUKEwj8ouK0sJX1AhW0olwKHVWxA-AQFnoECAUQAQ&usg=AOvVaw2tGnKMk1QZUogF27j7fe0R

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