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.
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Can we avail input tax on Tyre
Replies (5)
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.
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