ITC Availability On Bicycle ?

347 views
User Avatar

6 Points Posted on 28 April 2023
Can we Claim ITC on Bicycle Purchased ?
0 Reply Share Follow
On 28 April 2023 at 19:03 Report
Replies (4)
Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) can be claimed on the purchase of a bicycle. Generally, ITC is not available for personal bicycle purchases. However, it can be claimed if the bicycle is purchased for official business purposes and used in the furtherance of business, subject to the conditions outlined in Section 16(2) of the CGST Act.

User Avatar

Pivate
1492 Points Posted on 28 April 2023
No, you can't Claim ITC
Reply
On 28 April 2023 at 19:35
User Avatar

Practicing in GST and MSME
1985 Points Posted on 28 April 2023
Yes, if for official purpose.
Reply
On 28 April 2023 at 19:51
User Avatar

Profession
28267 Points Posted on 29 April 2023
Yes you can claim itc provided used for furtherance of business.
Reply
On 29 April 2023 at 07:36
User Avatar

GST Practitioner
55067 Points Posted on 29 April 2023
Yes ITC available but subject to condition prescribed in Section 16(2) of CGST Act
Reply
On 29 April 2023 at 20:10

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Belated Return where Form 10IEA filed this year to
  2. GST Reconciliation Tool (2A vs Books) - looking fo
  3. TDS ON PF FORM 19 WITHDRAWAL
  4. Can a virtual office in Mumbai be used for company
  5. Eway and e invoicing in condition where 4 party ar
  6. Bank balance in ITR-3
  7. INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
  8. Tempsens Instruments IPO GMP Allotment Listing dat
  9. Upload Type - Correction. Not showing in TDS filli
  10. Partnership tax audit query

More recent discussions | Post

Related Topics :

Loading