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ITC on Motor Bike

Anju. C.M (41 Points)

12 August 2020

If the company purchased motor bike including insurance, can they claim itc on that?

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5 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 12 August 2020

What is the business of company..?

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Anju. C.M (41 Points)
Replied 12 August 2020

Tea manufacturing

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 12 August 2020

No, The Company can not claim the ITC of GST paid on purchase of Motor bike including insurance thereof.

As per provision, GST can be claimed for vehicles only if (i) they are bought for resale, and (ii) they are bought for use in transporatation of passengers / Goods; (iii) they are bought for use in teaching of driving such vehicles.