Goods Transport Vehicle

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accountant
32 Points Posted on 03 February 2022

Respected Sir,

If 3 wheeler vehicle dealer purchased one goods transport vehicle for same firm as capital assets.for business use.

1.Is there GST application same firm because same firm is purchaser and Seller ?

Please guide me how to do accounting and GST Treatment.

 

 

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On 03 February 2022 at 01:01 Report
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Chief Accountant
3150 Points Posted on 04 February 2022
As it's trasport vehicle, u can claim ITC.
Capitalised the same in your books of account, if its capital asset for u
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On 04 February 2022 at 21:02
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Profession Business
28244 Points Posted on 07 February 2022
Sec 17(5) blocked credit is applicable, cannot claim ITC
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On 07 February 2022 at 06:59

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