Input credit on purchase of vehicle
Our company is doing business in exports of agriculture products.Recently we have purchased motar vehicle for official use & paid Gst as well as cess . can we claim input on the same on Gst amount & cess amount? what are the conditions to be fulfilled for availing credit in this cases
Replies (9)
Hii
you can claim input tax credit on purchase of vehicle.the condition has to be fulfiled
I am not agree with the reply of Gagrani JI. As per sec-17(5) of GST Act purchase of vehicle & GST there on is coming under negative list & can not be taken as credit. But in case of organisation who purchase the same for further supply of the same can take the credit of the same.
I agree mr patnaik sir
I don't agree to pattnik
as motor vehicle is used for business
ITC can be claimed if depreciation on it is not provided
as motor vehicle is used for business
ITC can be claimed if depreciation on it is not provided
No you are not eligible to claim input tax credit even though the vehicle used for business purpose.whatever the Gst&cess u have paid book it as an expenditure and consider as a cost.check negative list.of input tax credit.
As per section 17(5) of the CGST Act, 2017 GST on motor vehicle is not eligible for ITC.
In your case, input is not available.
It is available when there is:
- further supply of such vehicles.
- transportation of passengers.
- imparting training on driving, flying, navigating such vehicles
- used for transportation of goods
AGREE WITH MANISH.
ITC IS NOT AVAILABLE ON CAR USED FOR BUSINESS PURPOSE
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