ITC Allowed for Truck

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MBA
26 Points Posted on 18 November 2020
ITC Allowed for Truck - company purpose of delivery the goods
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On 18 November 2020 at 22:42 Report
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This discussion clarifies that Input Tax Credit (ITC) on GST paid for purchasing trucks is generally allowed if the vehicle is used for the transportation of goods. This is in line with Section 17(5)(a)(ii) of the GST Act, which permits ITC for motor vehicles and other conveyances used for carrying goods.

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Student
23693 Points Posted on 18 November 2020
Yes Sir ITC would be allowed on GST paid on Purchase of Truck since it is being used for Transportation of Goods...
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On 18 November 2020 at 23:00
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Accountant
3662 Points Posted on 18 November 2020
Yes

ITC allowed
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On 18 November 2020 at 23:42
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1313 Points Posted on 19 November 2020
U/s17(5) (a)(ii), ITC shall be allowed in respect of motor vehicles and other conveyances used for transportation of goods
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On 19 November 2020 at 12:48

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