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Crane purchase

Shrikanth Hulmani (Proprietor) (33 Points)

16 December 2018

I am propriter of one construction company , i want purchase one crane cost of aproximatelly 1 crores including Gst. My company also registerd under Gst. The crane purchase GST infut is avialabel or not.

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17 Replies

Abhijit (Articleship) (32 Points)
Replied 16 December 2018

yes available 100% if you used in your business

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 16 December 2018

Yes can avail Input .........

Hitesh (Student) (3549 Points)
Replied 16 December 2018

ITC can be availed

1 Like

Shrikanth Hulmani (Proprietor) (33 Points)
Replied 16 December 2018

This crane registered in RTO. Infut is avialebel.

pritesh (CA Final student) (7101 Points)
Replied 16 December 2018

yes you can take input.

varma and co (Proprietor) (24 Points)
Replied 17 December 2018

IN CASE OF A CIVIL CONTRACTOR, TRACTOR WAS PURCHASED TO BE USED IN HIS BUSINESS. ANY RESTRICTION ON INPUT OF GST PAID ON THE TRACTOR OR A JCB LIKE VEHICLES?

CA. Mayur M. Mamtora (Chartered Accountant) (162 Points)
Replied 17 December 2018

As per FAQ on Mining Sector available on CBIC Website, quoting Answer to FAQ No. 21 for your kind reference :

"The provision of Sec. 17(5) (a) of the CGST Act, 2017 restricts credit on motor vehicle for specified purposes listed therein. Further, in terms of the provision of Section 2(76) of the CGST Act, 2017 the expression ‘motor vehicle’ shall have the same meaning as assigned to it in Clause (28) of Section 2 of the Motor Vehicle Act, 1988, which does not include the mining equipment, viz., tippers, dumpers. Thus, as per present provisions, the GST charged on purchase of earth moving machinery including tippers, dumpers used for transportation of goods by a mining company will be allowed as input credit."

Link to above FAQ is given hereunder :

https://www.cbic.gov.in/htdocs-cbec/gst/faq-mining.pdf

Hence in your case, Input Credit on Crane should be available.

Madhukar N Hiregange (Chartered Accountant) (38934 Points)
Replied 17 December 2018

Motor vehicles used in the transportation of inputs would be eligible and not barred under sec 17(5). You are eligible. Pl ensure that you do not claim depreciation in IT for ITC portion.

Shrikanth Hulmani (Proprietor) (33 Points)
Replied 25 January 2019

I am GST payer i purchased one Crane cost of 8000000.00. I have taken the GST Input , in Income Tax we are eligible for take deprecation or not please guide me sir.

Shrikanth Hulmani (Proprietor) (33 Points)
Replied 25 January 2019

I am GST payer i purchased one Crane cost of 8000000.00. I have taken the GST Input , in Income Tax we are eligible for take deprecation or not please guide me sir.

Shrikanth Hulmani (Proprietor) (33 Points)
Replied 25 January 2019

I am GST payer i purchased one Crane cost of 8000000.00. I have taken the GST Input , in Income Tax we are eligible for take deprecation or not please guide me sir.

Shrikanth Hulmani (Proprietor) (33 Points)
Replied 25 January 2019

I am GST payer i purchased one Crane cost of 8000000.00. I have taken the GST Input , in Income Tax we are eligible for take deprecation or not please guide me sir.

pritesh (CA Final student) (7101 Points)
Replied 25 January 2019

You can take depreciation on taxable value not on tax value.. because tax you are taking input

CA Akshay Hiregange (Partner - Audit & Assistance) (4515 Points)
Replied 25 January 2019

Dear Srikanth,

In addition to above responses, please ensure that applicability of Rule 42/43 wherein, if it is utilised to construct and sell ready to move in apartments (after OC/CC) which is an immovable property, GST is not applicable, and related CG, Input credits would be ineligible.