Input tax credit

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20 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.
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On 03 July 2020 at 21:31 Report
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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.

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20 Points Posted on 03 July 2020
Hi sir 👋
please tell me one thing
have you purchased for personal purposes
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On 03 July 2020 at 22:02
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20 Points Posted on 03 July 2020
Itc Available for 13 seater or more
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On 03 July 2020 at 22:57
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20 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.
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On 03 July 2020 at 23:30
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20 Points Posted on 04 July 2020
No itc on persanal use.
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On 04 July 2020 at 17:04
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Designation
20 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
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On 05 July 2020 at 09:37
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20 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
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On 05 July 2020 at 10:44
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20 Points Posted on 05 July 2020
I said .. no itc on personal use.
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On 05 July 2020 at 10:54
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Assistant Manager
20 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.
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On 05 July 2020 at 23:50
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20 Points Posted on 06 July 2020
It is for personal use only
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On 06 July 2020 at 15:52

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