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INPUT TAX CREDIT ON PURCHASE OF SERVICE VAN
When we purchase a Van to use as a running service VAN through 2 districts, is there any problem for availing input tax credit on such purchase. Section 17(5) specifically disallows input tax credit on purchase of vehicle. So kindly help me to know whether input tax can be availed or not?
Replies (1)
As per section 17(5) if the seating capacity of Van is more than 13 person the there is no block credit and u can avail ITc
bt if its less than 13 person than u cannot take ITc if u use this van other than any of these conditions
1 . for further supply of van (means business of sale and purchase of motor vehicle)
2. For Transportation of passenger
3. for given Traning on driving for such vehicle
if any of the condition u done than u can take ITc on ur Van
otherwise No ITc is avail
bt if its less than 13 person than u cannot take ITc if u use this van other than any of these conditions
1 . for further supply of van (means business of sale and purchase of motor vehicle)
2. For Transportation of passenger
3. for given Traning on driving for such vehicle
if any of the condition u done than u can take ITc on ur Van
otherwise No ITc is avail
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