INPUT TAX CREDIT on purchase vehicles

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B.Com
23 Points Posted on 24 September 2022
INPUT TAX CREDIT on purchase vehicles can be utilized for taxable good ( by government notification exempt goods under taxable)
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On 24 September 2022 at 12:26 Report
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Quick Summary
This discussion clarifies the eligibility for claiming Input Tax Credit (ITC) on vehicle purchases. Generally, ITC is claimable if the vehicle is used for business purposes, especially in transport or delivery services. However, specific exemptions and restrictions, such as blocked credit under Section 17(5), may apply depending on the nature of your business and the vehicle's use.

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13 Points Posted on 24 September 2022
What is the purpose of purchasing vehicle?
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On 24 September 2022 at 13:33
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Profession Business
28246 Points Posted on 24 September 2022
Provided used for business purpose.
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On 24 September 2022 at 14:11
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13 Points Posted on 24 September 2022
Need a bit more details that what kind of business do you have?

is it related to transport or for providing home delivery service or it will be easy if you explain use of vehicles in your business.
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On 24 September 2022 at 15:39
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Profession Business
28246 Points Posted on 25 September 2022
If it is for transport blocked credit under sec 17(5).
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On 25 September 2022 at 07:17
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B.Com
23 Points Posted on 26 September 2022
Exempt rice trade
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On 26 September 2022 at 10:16

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