Sahil Shah 01 June 2020
Since we saw in your previous question that Vehicle purchased in name of partner can be used for partnership firm's business and can be shown as firm's asset, its itc will be available as it is used for goods transport.
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.