sir , car purchase for company use ..
shall I take allow credit..
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Itc credit
Replies (3)
Quick Summary
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
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