We have 42 vehicles as closing stock as on 30-06-2017. In this we have sold 40 vehicles and two vehicles in remaining stock. Can I avail that 42 vehicles excise duty as input credit or 40 vehicles excise duty. And in this 40 vehicles only 10 vehicles sold below sale price and 30 vehicles sold as per price list. Request to please suggest to me regarding availment of input credit.
hi vivek! you can claim ITC on all the 42 vehicle becoz..there is no concept one to one relationship.while claim ITC and even if u sold the vehicle at below market price or list price still ur eligible to claim ITC
and pls ... do confirm , if ans diff then pls..refer to me also kk
CAclubindia
