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Gst credit in case imsurance claim
in case car repair where 90% amount of bill is paid by insurance company and we pay only depreciable or 10% amount. how much gst credit will b available on full amount or 10%.
Replies (10)
No credits available on repair of car
but y car is used for business.
nd what about if this is case of machinery used for production
For what purpose?
For machinery credits will be available
material send to job worker nd reced like
but how much on full invoice value.?
If the vehicle is for transportation you will get credits on its repair otherwise not.
You will show only 10% in your books as repairs therefore credits will be available for 10%.
Presuming that car is totally used for business purpose you have been given 90% reimbursement you may opt for proportionate credit of GST.
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