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ITC allowable or not

P AGRAWAL (partner) (106 Points)

03 October 2020

Weather ITC is allowed on repair and insurance expense of maruti car held in the name of firm, or disallow U/S 17(5) in GST.

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nayab (Sr.Officer Accounts ) (250 Points)
Replied 03 October 2020

Ar used for personal work ITC is ineligible ..
if used business work you can take itc

Shivam RC (Student) (23683 Points)
Replied 04 October 2020

ITC on Repair & Maintenance of Motor Vehicles is Blocked under Section of 17(5) of the CGST Act 2017. Since no ITC was claimed during the purchase of car ( being blocked credit u/s 17(5)(a) of the CGST Act 2017 ), so no ITC can be claimed on Repair, Maintenance and Insurance Expenses.

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