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Input Tax Credit

ITC / Input 320 views 4 replies
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218 Points Posted on 05 October 2018
If a truck is purshased for use in own business i.e. carrying of gitti.It is not used for any transportation.wheather ITC is allowed to claim under GST.
Is it covered by section 17 (5) CGST act ?
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On 05 October 2018 at 21:48 Report
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Chartered Accountant
1272 Points Posted on 05 October 2018
Can you be more specific.. what is gitti
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On 05 October 2018 at 22:28
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GST Practitioner
55067 Points Posted on 05 October 2018
Yes you can claim ITC Its being using for tranporting Gitti , & i assume you deals in supplying Giti
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On 05 October 2018 at 22:44
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Chartered Accountant
1272 Points Posted on 05 October 2018
As per sec 17(5) gst paid on vehicles are not allowed as ITC only when the vehicles are not used in furtherance of business.

If you are using the vehicle to carry gitti stone which you are dealing in then you are eligible to claim ITC.
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On 05 October 2018 at 22:53
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Student
23693 Points Posted on 06 October 2018
Yes Sir...

You can claim INPUT TAX CREDIT on Truck purchased as it is being used in the course or furtherance of business for transportation of goods.

Blocked Credit [ i.e. SECTION 17(5) ] is not applicable in your case.
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On 06 October 2018 at 07:47


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