Vehicle purchase
This query is : Resolved
ADV Ramesh Tiwari
(Querist)
04 August 2019
Hi dear
My question that I am a truck purchase only ours business use only my goods carriers so my business not INCOME for truck how arjest vehicles expenses and gst ITC CLAME eligible or not
My question that I am a truck purchase only ours business use only my goods carriers so my business not INCOME for truck how arjest vehicles expenses and gst ITC CLAME eligible or not
CA R SEETHARAMAN
(Expert)
04 August 2019
As truck is used for business to carry goods ITC can be claimed and expenses on vehicle allowed expenses.
Message likes :
1 times
ADV Ramesh Tiwari
(Querist)
04 August 2019
CA R SEETHARAMAN
Sar not need truck INCOME sow in because not incom in my business only my goods carry balance sheet
Sar not need truck INCOME sow in because not incom in my business only my goods carry balance sheet
04 August 2019
Ramesh ji, yadi aap, supply goods or service or both for further supply in the course of business ke liye use karte hai truck ko to aap ITC le sakte hai. yadi aap Further supply nahi karte truck se to aap ITC nahi le sakte hai.
Further, if you get some consideration against supply then you need to pay GST TAX as per prescribed in act, rule.
further that, ramesh ji if you made income then you need to pay Income tax as per income tax act.
Further, if you get some consideration against supply then you need to pay GST TAX as per prescribed in act, rule.
further that, ramesh ji if you made income then you need to pay Income tax as per income tax act.
CA R SEETHARAMAN
(Expert)
05 August 2019
No need to show truck income separately as it is used for business.
Message likes :
1 times
ADV Ramesh Tiwari
(Querist)
05 August 2019
Hi Ankur ji
But I am only ours goods carrying til godown that sit
Not incom in my business only expenses. how arjest ?
But I am only ours goods carrying til godown that sit
Not incom in my business only expenses. how arjest ?
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GSTR9 Annual Return
- Ito add credit side of bank
- Employee secondment
- Rent agreement of House of deceased person
- GST ITC as per notification 12/2023- central tax
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Gift to nri relatives resides in usa
- LLP audit and disclosure
- Applicability of tax on invoice
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
