A person buy one TATA ACE and one Bolero for his business, that means he bring stocks from various places, vegitable and fruits.
Can he claim GST in his returns as ITC? if he claims GST, Whether can he avail Depreciation for that vehicles in Incometax?
ok thankyou, in here we use for transportation of goods only, so , we can avail gst.
if i claim that Vehicle purchase itc can i claim refund?
Vehicles used for transportation ( to prove) should be eligible for ITC. Proof may include registration under RTO for such purpose. No refund- only adjustment against taxable services to the proportion of taxable to exempt ( see rule 42)
thanks sir,
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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