sir my friend is distributor trading business, he purchased BSV VEHICLE, ti supply retailer in 2020 , he has claimed gst input tax, he not claimed depreciation in income tax. know gst department issued a notice pay the gst amount on which you have claimed on vehicle, we have pay or any law repl
y the notice
Menu
Capital Goods gst
Replies (1)
Summary: In general, ITC on motor vehicles (seating capacity ≤ 13) is blocked for trading businesses. Unless the business involves selling the vehicles themselves, transporting passengers for a fee, or running a driving school, the ITC claim is likely ineligible. You should seek professional advice to respond to the notice and prepare to reverse the credit with interest if it was claimed incorrectly.
Recent Topics :
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
Related Topics :
CAclubindia
