Dear experts,
if I am going buy a new car for business purpose shall I take ITC of the GST. plz suggest me
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GST on car purchase for business use
Replies (10)
No it is block credit
If your business is of Taxi or Car Trianing, then ITC is allowed on Car. If other business, the ITC is blocked in Section 17(5)
Thank you for u r answers
Agree
Agreed
Blocked credit is applicable in the following cases:
1. the querist has not mentioned the nature of business.
2. so sec 17(5) does not apply here.
3. Fixed asset used for the purpose of business other than for transport or carriage, so here itc will be available provided the taxable person is a regular assesse.
1. the querist has not mentioned the nature of business.
2. so sec 17(5) does not apply here.
3. Fixed asset used for the purpose of business other than for transport or carriage, so here itc will be available provided the taxable person is a regular assesse.
Thank you sir
Can anyone here solve my issue.
https://www.caclubindia.com/forum/gst-refund-under-no-change-in-pos-583383.asp
Can anyone here solve my issue.
https://www.caclubindia.com/forum/gst-refund-under-no-change-in-pos-583383.asp
The GST on cars and motorcycles is kept within the 28% threshold, and the Indian government has also announced a list of cess to be paid on various types of automobiles. Cess has been imposed on several types of vehicles, ranging from 1% to 15%. You can claim ITC for GST paid on the acquisition of motor vehicles such as a car if you are in the passenger transportation industry.
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