ITC on repair & maintenance of Motor vehicle
This query is : Resolved
10 December 2017
Hello,
Sec 17(5) restricts for availing ITC on purchase of motor vehicle.
Can ITC on repair & maintenance expenses of motor vehicle, used in business (not motor vehicle business) be availed ?
11 December 2017
Yes... You can... if it's furtherance of business
You can claim ITC for the Repairs and Maintenance of Motor vehicles. No more restriction for repairs and maintenance charges...
GOOD LUCK...
11 December 2017
Input tax credit on motor vehicle is specifically restricted u/s 17(5) of the CGST Act , barring certain circumstances, for availing credit. If you look into the definition of input tax u/s 2(62) of the CGST Act it includes tax both on goods and services, hence tax on repairs and maintenance shall not be eligible.
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
