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input GST on vehicle purchased on company name
we purchases two wheeler on company name for company work. can i take input for the same full amount in september month. as for depreciation i should not take on gst amount paid. is it correct. pls guide me. thanks
Replies (2)
If engine capacity is more than 25 cubic centimeter, then u are not eligible to take the credit.
If it is less than 25 cc, u can take the credit
ITC not available for the purchase of Two Wheeler as per sec 17(5).
You ll book total values under Fixed Asset and Claim Depreciation.
You ll book total values under Fixed Asset and Claim Depreciation.
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