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ITC Availability??
When We have a personal car but which is used for business purpose. And We have paid for Repair of Car then ITC available to us against sale of services.
Replies (7)
No........................
why?
it is used in the course of furtherance of business
it is used in the course of furtherance of business
no as per section 17(5)
17(5) doesn't mention this type of transaction
Unfortunately- a carry forward of the old cenvat restriction- where govt. looks at the restriction of credit as a way of collecting revenue. You would not be able to avail.
For businesses using motor vehicle for transportation of goods like Bolero, station wagon etc, credit should be available. Tribunal decision in this regard recently. Here ITC on the vehicle itself + insurance + servicing etc can be availed.
Sir can you please share the decision of tribunal..
As if it is, it could be of great help to us
As if it is, it could be of great help to us
But it's already in Act (section 17(5) ) If Vehicle used in transportation of Goods , the ITC can be claim .....
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