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ITC on a new car
My client has just purchase a new car which he uses for business and personal purposes. Can he avail ITC in GST regime?
Replies (6)
ITC cannot be avail, AS PER SEC 17(5)
As per sec 17 if some assets used for both business & personal purpose the ITC available for business purpose only.
But as per Sec 17(5) no ITC is available for motor vehicle except used for business, imparting training for driving or for transportation of passenger &goods.
So no ITC available.
Thanks for your reply...
and what about Insurance of new car
can we claim itc
can we claim itc
Yes ITC for insurance also available... If car used for business.
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