GST INPUT BENEFIT FOR SECONDHAND VEHICLE

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23 Points Posted on 26 May 2021
Dear sir/Madam
I want to buy second hand vehicle (2019 model)value RS 1 Crore from GST registrated company.
my company also GST registrated company . Can I take gst benifit or not . if I can take.
please explain sir.

THANK YOU
REGARDS
M.R.SARAVANADASAN
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On 26 May 2021 at 15:51 Report
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Quick Summary
This discussion addresses whether a GST-registered company can claim an input tax credit (ITC) on the purchase of a secondhand vehicle valued at ₹1 Crore from another GST-registered company. Generally, ITC is available if the vehicle is used for business purposes. However, specific conditions under Section 17(5) of the GST Act may restrict or disallow this benefit.

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Chartered Accountant
24588 Points Posted on 26 May 2021
If the vehicle is used for furtherance of business then ITC can be claimed
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On 26 May 2021 at 16:22
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GST Consultant
15986 Points Posted on 26 May 2021
Subject to certain conditions in section 17(5) itc is not available
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On 26 May 2021 at 17:33

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