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GST on Purchase of car for company Director use

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1 Points Posted on 14 August 2023
My quiry about: We bought a car in the name of Co. we can not avail the ITC Right.

Tally Entries about the car & accessories invoices.
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On 14 August 2023 at 10:35 Report
Replies (3)
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CFO- at NHTF
58280 Points Posted on 14 August 2023
Car A/c Dr
GST ITC A/c Dr
To Supplier

Supplier A/c Dr
To Bank
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On 14 August 2023 at 10:46
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Profession Business
28207 Points Posted on 14 August 2023
If it is use for the purpose of business then it's OK.
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On 14 August 2023 at 12:18
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"Do the Right Thing...!!!"
128152 Points Posted on 16 August 2023
Car Under Fixed Asset:
Dr. Car A/c - XXXXXX
Dr. GST Tax ITC A/c - XXXX
To. Supplier A/c - XXXXXX

Reverse the GST amount to Car account with a JV...

Also provide purchase entry for Accessories and Also transfer the accessories to Car Account...
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On 16 August 2023 at 21:13


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