Inputs tax credit
Sayed Nabil (355 Points)
08 December 2023Sayed Nabil (355 Points)
08 December 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14568 Points)
Replied 09 December 2023
Agree with V Subramaniam , Input Tax Credit Not available , its blocked Credit under section 17(5) of the CGST act .
Sayed Nabil
(355 Points)
Replied 09 December 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14568 Points)
Replied 09 December 2023
RAJA P M
("Do the Right Thing...!!!")
(127977 Points)
Replied 09 December 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14568 Points)
Replied 09 December 2023
sabyasachi mukherjee
(27145 Points)
Replied 10 December 2023
Yalamarthi Srinivasa rao
(Ca Articleship )
(16 Points)
Replied 10 December 2023
As per section 17(5) of CGST Act, Servicing, repairs and maintenance and general insurance of a motor vehicle, aircraft and a vessel are classified as blocked credits. Exception available if the vehicle is used for transport of goods or used for making taxable supplies.
In this case, we can't claim ITC on servicing, repairs of car. We can claim ITC only if car is used as cab/related services.
Live class on PF & ESI Enrollment & Returns Filing(with recording)