sir , car purchase for company use ..
shall I take allow credit..
Menu
Itc credit
Replies (3)
ITC Blocked under section 17(5) related to car
Dear Purushothaman Raja,
Input tax credit on car is blocked in terms of section 17(5), however few exceptions ITC is allowed when used for further supply of such car/cars, used for imparting driving skills, transportation of passengers. Therefore not allowed.
Further credit on general insurance and repairs and maintenance on the car also not allowed
Thank u sir
Recent Topic
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
Related Topics
CAclubindia
