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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Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) can be claimed on the purchase of a JCB intended for leasing. The consensus is that ITC is claimable, provided that the outward supply of leasing services is not exempt from GST. This means if your leasing business is taxable, you can claim the ITC on the JCB.