Vehicle purchase for transportation of Goods

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A manufacturing company inquired about claiming GST Input Tax Credit (ITC) on a Bolero Pickup purchased for transporting finished goods to their sales depot. The consensus is that ITC can be claimed on the vehicle. Additionally, depreciation can be claimed on the vehicle's price, excluding the GST component for which ITC has been claimed. The company also confirmed they can claim GST ITC on body-making charges.

Ikramuddin Saifi

Ikramuddin Saifi (Querist)
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01 April 2022 Dear Sir,
We are the manufacturing Pvt. Ltd. co., we purchased a BOLERO PICKUP (CNG) for transporation of finished goods From manufacturing co. to Sale Depot. I want to know Can we take ITC Credit of GST or Not??? Thanks in Advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 April 2022 You can take ITC credit of GST on the goods transportation vehicle Bolero.

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Ikramuddin Saifi

Ikramuddin Saifi (Querist)
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01 April 2022 And what's about Depreciation??

CA Puja Sharma

CA Puja Sharma (Expert)
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01 April 2022 You can take the ITC against the Bolero.
You will charge depreciation on the Bolero price excluding the GST component for which you have claimed ITC.

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Ikramuddin Saifi

Ikramuddin Saifi (Querist)
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01 April 2022 Thank you so much all of you for given prompt reply.

Ikramuddin Saifi

Ikramuddin Saifi (Querist)
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02 April 2022 Can we claim GST ITC on body making charges???

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 April 2022 Yes, you can claim ...

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Ikramuddin Saifi