Dear sir
we purchased Tyre for our company lorry. we received bill also, now my doubt is, can we avail tax on that or not.
if yes, in which basis we can avail, pls brief. waiting for reply soon.
Menu
Can we avail input tax on Tyre
Replies (5)
Quick Summary
Pls let me know what is your outward supply in GST.
TMT bars @ 18% rate of tax
If the lorry is used for transportation of TMT Bars to client place then the ITC allowed
Since the Truck/Lorry is used for Transportation of Goods, you can claim ITC on Tyre. Refer the Provision of Section 17(5) clause (a) of the CGST Act 2017.
Yes you can claim ITC on any expenses incurred in respect of vehicle which is being used for transportation of goods in business.
Recent Topics :
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
- Belated Return where Form 10IEA filed this year to
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
Related Topics :
CAclubindia
