Shivam RC (Student) 01 June 2020
@ RAHUL Sir,
As per my view Input Tax Credit ( ITC ) on Van which is being used for transportation of Goods can be claimed. I guess the Invoice contains the GSTIN of your Partnership Firm.
The Van may be registered in the name of Partner with the RTO ( since Partnership Firm is not a separate legal entity ), but only ensure that the Invoice is issued in the Firm's name with the GSTIN. You can also claim Depreciation ( as per Section 32 of the Income Tax Act 1961 ) on the Van under W.D.V Method.
Shivam RC (Student) 02 June 2020
It's a Commercial Vehicle Sir. The Van is being used for transportation of goods. Hence it needs to be registered as a Commercial Vehicle and accordingly Yellow Number plate will be applicable.