Input Tax Credit

Sir, what is the purpose of use steel racks? Further scooty u/s 17(5) negative list goods not claimed itc

ITC of the taxes paid is blocked in following cases. 1.Goods and services or both used for personal consumption. 2.Services of General Insurance, servicing, Repair and maintenance as they relate to motor vehicles.

For Steel Racks you can claim ITC since it is being used in the course of or furtherance of business ( SECTION 16(1) of the CGST Act 2017 ).

As far as the Motor Vehicle ( Scooty ) is concerned, you cannot claim ITC as it is specifically BLOCKED under Section 17(5) clause (a) of the CGST Act 2017.

Regards,
Shivam RC.

Yes, I agree with SHIVAM RC as mentioned above.

Means if i purchase racks, computer, laptop, hard disk and have sole proprietor firm gst no. then i can claim itc ? Offcourse these things will be used in my personal needs too so if i will claim itc on them then will i do anything wrong because these things will be also use in my business location so i am confused.

Further pl. see this article here it says i can claim itc on scooty - https://www.caclubindia.com/experts/our-own-goods-vehicle-used-for-business-purpose-2743169.asp

Please experts respond because i found one article in which experts confirmed that itc can claim on scooty too if purchasing for the business purpose like taking goods to business location or using scooty for the business purpose to run inbetween warehouse to warehouse sooffcourse i will also use the newly scooty for fulfilling this types of business purposes. So can i claim itc or not ? 

https://www.caclubindia.com/experts/our-own-goods-vehicle-used-for-business-purpose-2743169.asp

Experts please reply on my gst itc topic