Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Itc on vehicle

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

30 March 2018 I own sole proprietor firm,i have purchased vehicle for personal use in name of my firm so can i claim ITC under gst if no then what entry to be passed in books of accounts.

CA Suresh Jain

CA Suresh Jain (Expert)

30 March 2018 No, you can not claim ITC against GST paid on motor vehicle for your personal use. The entry shall be - Debit Vehicle Account under Fixed Assets for full value of the bill and Credit - Bank account from which you made the payament

Querist : Anonymous

Querist : Anonymous (Querist)

30 March 2018 Sir
Thanks for reply.While Filing GSTR1 Purchaser will file with my gst details so automatically my account will be credited with itc so what i should do now

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now