ITC claim rules

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7 Points Joined October 2020

Can i claim ITC on purchase of truck which will be use for delivering hardware items like cements rod to customers as i have a hardware business.kindly let me know whether i can claim or not 

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On 07 April 2025 at 12:31 Report
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Master in Accounts & high court Advocate
9101 Points Joined December 2011

 Conditions for Claiming ITC -

*Business Use*: The truck must be used for business purposes, such as delivering goods to customers. -

*GST Registration*: Your hardware business must be registered for GST. -

*Invoice and Payment*: You must have a valid invoice for the purchase of the truck and have paid the GST. ITC Claimable on Truck Purchase You can claim ITC on the GST paid on the purchase of the truck, which can help reduce your GST liability. Additional Considerations -

*Fuel and Maintenance*: You can also claim ITC on fuel and maintenance expenses for the truck, subject to the conditions mentioned above. -

 *Records and Documentation*: Ensure you maintain proper records and documentation, including invoices and payment receipts, to support your ITC claim.

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On 08 April 2025 at 09:04


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