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13 Points Joined March 2022
Our Client is a Contractor, they are buying the tractor for the business purpose. Can we adopt this for Input. whether to take input or not. please clarify the issue sir.
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On 12 March 2022 at 09:27 Report
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accountant
368 Points Joined May 2011

You can take the credit and debit the taxable value in Plant & Machinery A/c

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On 12 March 2022 at 12:54
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Chartered Accountant
5010 Points Joined March 2020

You can take ITC against the Tractor if will be used for business. 

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On 12 March 2022 at 13:27
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Profession Business
28196 Points Joined May 2017
Yes certainly you can take credit provided you hv the business of hiring or construction business.
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On 13 March 2022 at 09:33

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