INPUT TAX CREDIT CLAIMING RELATED

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STUDENT
46 Points Posted on 17 November 2022

Can a person claim itc on truck insurance and maintenance of truck like purchase of truck parts and those trucks are using to transport of owner business Goods and trucks are in his name and he has proprietor business and he show trucks in balance sheet,,,can he claim itc???

Pl suggest 

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On 17 November 2022 at 18:41 Report
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Quick Summary
This discussion clarifies whether a proprietor can claim Input Tax Credit (ITC) on trucks used for transporting business goods. The consensus is yes, provided the trucks are registered in the owner's name, appear on the balance sheet, and are used for further supply, transportation of goods, or related services as per Section 17(5) of the CGST Act, 2017.

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Student CA Final
422 Points Posted on 17 November 2022
As per section 17(5) of CGST Act, 2017 ITC on motor vehicle can be availed if it is used for further supply of such vehicles or for transportation of goods or passengers or for imparting training services.
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On 17 November 2022 at 21:35
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Assistant
719 Points Posted on 18 November 2022
Yes. ITC can be availed.
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On 18 November 2022 at 08:11

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