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Input tax credit
I have a cab business If I purchase a vechile without commercial number I will get a input tax credit or not.
Replies (9)
Quick Summary
Hi sir 👋
please tell me one thing
have you purchased for personal purposes
please tell me one thing
have you purchased for personal purposes
Itc Available for 13 seater or more
ITC available when it has more than 13 seats capacity including driver and it's used transportation of passengers.
No itc on persanal use.
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
Hemal is right in cab business you can claim itc on any vehicle if you are going to use it for business purposes
I said .. no itc on personal use.
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.
It is for personal use only
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