CLAIMING ITC ON PURCHASE OF JCB WHICH IS USED FOR LEASE

CA Jaswanth S (Practicing Chartered Accountant) (119 Points)

31 August 2021

I have purchased a JCB which is used for leasing to others. Can I claim ITC on that JCB or not?

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Rajkumar Patel (602 Points)
Replied 31 August 2021

100% you can claim ITC on JCB subject to your outward supply should not be exempt.

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Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 31 August 2021

Yes ITC can be claimed

CA Jaswanth S (Practicing Chartered Accountant) (119 Points)
Replied 01 September 2021

Ok....thank you

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