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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.
Replies (3)
You can take the credit and debit the taxable value in Plant & Machinery A/c
You can take ITC against the Tractor if will be used for business.
Yes certainly you can take credit provided you hv the business of hiring or construction business.
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