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Capital asset input tax
we have bought one car, specifically for business purpose in the name of proprietor, and shown in balancesheet as capital asset. now my query is that can we claim the input tax of the bought car full in the same month or it is to be spread to the 5 years.
Replies (2)
Quick Summary
Thanks for the information vishesh sir
For claiming input tax credit, one must occupy a tax invoice or a debit note ... the same are deployed for rent as per the Section 17(5)(d) of CGST Act, 2017.
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