ITC against Car
Can proprietor take ITC against newly purchased car in his firm ?
Replies (5)
According to section 17(5) of CGST act, input on Motor vehicles and other conveyances are allowed only if they are used :
1) for further supply of such vehicles or conveyance
2) Transportation of passengers
3) Imparting training on driving, flying, navigating such vehicles or conveyances
4) for transportation of goods
If for other purposes INPUT shall not be taken.
Yes I agreed to Mr Saikrishnan S....
Input not allowed for Personal use vehicles also not available except business...
Input not allowed for Personal use vehicles also not available except business...
since the car of proprietor is being used in business for purpose like conveyance for business trips, conveyance etc to facilitate business .... in such case shall ITC be claimed on purchase of car ?
Input credit depends on what nature of business is the proprietor is into.
Only for above mentioned list, input is allowed.
Can ITC claimed for cars purchased for up-down of employees to office from their homes
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