Input tax credit

259 views
User Avatar

42 Points Posted on 03 July 2020
I have a cab business If I purchase a vechile without commercial number I will get a input tax credit or not.
0 Reply Share Follow
On 03 July 2020 at 21:31 Report
Replies (9)
Quick Summary
This discussion clarifies the eligibility of Input Tax Credit (ITC) for vehicles purchased by cab businesses. Generally, ITC is available if the vehicle is used for business purposes, such as passenger transport services. However, ITC is not applicable if the vehicle is purchased for personal use. There's also a note that ITC may be available for vehicles with 13 or more seats, including the driver.

User Avatar

12 Points Posted on 03 July 2020
Hi sir 👋
please tell me one thing
have you purchased for personal purposes
Reply
On 03 July 2020 at 22:02
User Avatar

75 Points Posted on 03 July 2020
Itc Available for 13 seater or more
Reply
On 03 July 2020 at 22:57
User Avatar

12 Points Posted on 03 July 2020
ITC available when it has more than 13 seats capacity including driver and it's used transportation of passengers.
Reply
On 03 July 2020 at 23:30
User Avatar

67 Points Posted on 04 July 2020
No itc on persanal use.
Reply
On 04 July 2020 at 17:04
User Avatar

Designation
771 Points Posted on 05 July 2020
What is commercial number? since u r in can business and cab purchased by if used for purpose specified in Section 17(5),.u can avail. ITC
Reply
On 05 July 2020 at 09:37
User Avatar

75 Points Posted on 05 July 2020
Hemal is right in cab business you can claim itc on any vehicle if you are going to use it for business purposes
Reply
On 05 July 2020 at 10:44
User Avatar

67 Points Posted on 05 July 2020
I said .. no itc on personal use.
Reply
On 05 July 2020 at 10:54
User Avatar

Assistant Manager
787 Points Posted on 05 July 2020
If the car/ vehicle is purchased for the further supply of service I. e cab service the ITC can be availed with respect to the same. However the credit of compensation cess which would be charged for the cars would not be eligible as credit. only CGST + SGST / IGST would be eligible.
Reply
On 05 July 2020 at 23:50
User Avatar

4215 Points Posted on 06 July 2020
It is for personal use only
Reply
On 06 July 2020 at 15:52

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. GST Reconciliation Tool (2A vs Books) - looking fo
  2. TDS ON PF FORM 19 WITHDRAWAL
  3. Can a virtual office in Mumbai be used for company
  4. Eway and e invoicing in condition where 4 party ar
  5. Bank balance in ITR-3
  6. INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
  7. Tempsens Instruments IPO GMP Allotment Listing dat
  8. Upload Type - Correction. Not showing in TDS filli
  9. Partnership tax audit query
  10. ERROR SHOWING PARTNER REMUNERATION ITR 3 TIME OF V

More recent discussions | Post

Related Topics :

Loading