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Nidhi

Nidhi (Chief Accountant)     31 July 2021

U r using it for commercial purposes, but if it's not commercial vehicles than not allowed
1 Like
Jimmy Shergil

Jimmy Shergil (Chairman)     31 July 2021

Than ITC on bus available or blocked
Nidhi

Nidhi (Chief Accountant)     31 July 2021

If bus capacity is 13 passenger or more than available, otherwise not available
1 Like
Jimmy Shergil

Jimmy Shergil (Chairman)     31 July 2021

If m sailing car than can I claim ITC
Nidhi

Nidhi (Chief Accountant)     31 July 2021

Yes, in that case ..u can claim...
as its for furtherance of business
1 Like
Jimmy Shergil

Jimmy Shergil (Chairman)     31 July 2021

Than why not available on bike or other vehicles, which is used for business purposes
Nidhi

Nidhi (Chief Accountant)     31 July 2021

Ma'am, it's specifically blocked u s 17 5 of CGST act
1 Like
CA Akshay Hiregange

CA Akshay Hiregange (Partner - Audit & Assistance)     02 August 2021

The intention of govt. is to make money on sin goods. Vehicles for passenger travel (less than 13 seaters) fall in that category. Therefore, by restricting ITC, govt. makes money. 

Link to business functions is not sufficient here. But, a person who trades in vehicles, i.e. buy & sell will be able to claim as he is not purchasing vehicle for its utility but is purchasing for further sale. 

Please go through Section 17(5) of CGST Act. Also, where ITC on the vehicle is ineligible (conceptually) - then ITC on the repairs, maintenance, insurance, leasing/renting, is also ineligible. (applicable vice versa too).

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