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Input Tax credit on Service charges of motor Vehicles
Experts can we take itc of service charge of Motor Vehicle [ for GOods Transportation] as per letest amendment in Gst Act Under 17(5) update as on 30 august 2018 ???
Replies (7)
Recent amendments are yet to be affected.
when it will be affected ?????
Only when CBEC notify by issuing Notification
Its Given in the Act the applicability of this act will be come into force only when Govt. notify
Its Given in the Act the applicability of this act will be come into force only when Govt. notify
n present situation of rule can we take itc on it
IF IT IS USED FOR GOODS TRANSPORTATION THEN, YES YOU CAN CLAIM ITC
Sir can you please tell me that what is the difference between present and amended gst act regarding Section 17(5),
CURRENT LAW: INPUT TAX CREDIT SHALL NOT BE AVAILABLE IN RESPECT OF THE FOLLOWIN
(A) MOTOR VEHICLES & OTHER CONVEYANCE
AMMENDED LAW:1. MOTOR VEHICLES FOR TRANSPORTATION OF PERSONS HAVING APPROVED SEATING CAPACITY NO MORE THAN 13 PERSON : MEANS ON VEHICLE MORE THAN 13 PERSON SEATING CAPACITY CAN AVAIL ITC . EG.IF CO.PURCHASE BUS FOR HIS EMPLOYEES CONVEYANCE, THE ITC OF TAX PAID ON SUCH BUS PURCHASE WOULD BE AVAILABLE
2.THEY HAVE DEFINE SERVICES IN REGARD TO MOTOR VEHICLE ie INSURANCE,SERVICE,REPAIR & MAINTENANCE RELATE TO MOTOR VEHICLE ,VESSELS IS BLOCK
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