FIXED ASSETS JCB PURCHASE

17 (5) Notwithstanding anything contained in sub-section (1) of section 16 and subsection (1) of section 18, input tax credit shall not be available in respect of the following, namely:—

(a) motor vehicles and other conveyances except when they are used––

• (i) for making the following taxable supplies, namely:—
  • (A) further supply of such vehicles or conveyances ; or
  • (B) transportation of passengers; or
  • (C) imparting training on driving, flying, navigating such vehicles or conveyances;
• (ii) for transportation of goods;

What is Your Nature of Business...?

thanks sir,

depreciation rate?

There is a need to differentiate between a material handling equipment like JCB- Classification also would not be in Chapter 87. Certainly available as long as depreciation not claimed on the ITC part.

Yes you can claim the ITC on JCB or Dumper Because as per section 17(5) block credit applicable only on Motor Vehicle like Car, and when we study definition of Motor Vehicle then it's not include JCB or dumper, 

JCB or dumper include in Plant & machinery