ITC on used cars business
This query is : Resolved
17 October 2020
Where a company is engaged in dealing only in second hand cars and is opting for margin scheme, can it claim full ITC on all it's expenses other than purchases or purchases of repairing spare parts, painting and tools for refurbishing ?
18 October 2020
I do not see any restrictions in Law for availing ITC on other business expenses.
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