Insurance

No u cannot ITC on car purchase as per section 17(5)

ITC will be available when the vehicle is used for the following.

(i) for making the following taxable supplies, namely:—
(A) further supply of such vehicles or conveyances ; or
(B) transportation of passengers; or
(C) imparting training on driving, flying, navigating such vehicles
or conveyances;
(ii) for transportation of goods;

Yes I agreed to Mr Pankaj Rawat...


@ Uday Kumar.,

You can book the whole value of the car and it's related expenditure to Fixed Asset...

THANK U SIR