as vehicle with less than 4 wheels are ineligible for itc then a goods
transport vehicle with 3 wheeler mini trucks are eligible to claim itc or not
Menu
Input tax credit - expert level
Replies (2)
As per section 17 (5)
notwithstanding anything contained in section 16 and 18 input tax credit shall not be available in respect of the following
Motor. vehicles for transportation of person having approved seating capacity of not more than thirteen persons (including the driver) , except when to they are used for making the following taxable supplies
A .further supply of such motor vehicles
B transportation of passengers
C. imparting training or driving such motor vehicles
notwithstanding anything contained in section 16 and 18 input tax credit shall not be available in respect of the following
Motor. vehicles for transportation of person having approved seating capacity of not more than thirteen persons (including the driver) , except when to they are used for making the following taxable supplies
A .further supply of such motor vehicles
B transportation of passengers
C. imparting training or driving such motor vehicles
If the motor vehicle is used for transportation of goods and is designed for transportation of goods then ITC is available
Recent Threads
- ITC availment relationship
- Challan confusion in ITR B block return
- U/s 23 (2)(a) and 23 (2)(b)
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
- Hiring Company Secretary Manager with 2 Years of P
- Updated Return _ Deduction
- Turf Club Veterinary Department. Procurement Manua
- I have wrongly shown itc in reclaimable itc inste
- Help reqd in getting Professional Tax challan
Related Threads
CAclubindia
