ITC ELIGIBLE ON TRACTOR PURCHASE FOR TRANSPORATION OF GOODS

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6 Points Posted on 18 January 2021

Hello 

 

As we are manufacture of Electronic Items , Tractor purchased for Transportation of Goods, can we avail the ITC  related with Tractor and Connected Insurance .

Please share with GST Notification number.

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On 18 January 2021 at 10:09 Report
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Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) is claimable on the purchase of tractors used for transporting goods, along with associated insurance costs. The consensus is that ITC is indeed eligible. Participants are advised to refer to Section 17(5) of the GST Act for detailed provisions regarding blocked credits.

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Chartered Accountant
86505 Points Posted on 18 January 2021
Yes you can
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On 18 January 2021 at 10:26
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6 Points Posted on 18 January 2021

Thanks for replying

 

Can you please share the GST Rule Number for this and also for Insurance Part ?

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On 18 January 2021 at 10:44
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133 Points Posted on 18 January 2021
Yes ITC is available.

Go through the section 17(5) blocked credit.
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On 18 January 2021 at 10:49
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Chartered Accountant
86505 Points Posted on 18 January 2021
You Can check Sec 17(5)
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On 18 January 2021 at 11:12

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