ITC on Bike Purchase On Firm Name

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30 Points Posted on 19 January 2021
Hi, can I take credit of 28% /18% gst which I am getting by purchasing of bike worth 2,21,000.00.Plead help me
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On 19 January 2021 at 10:02 Report
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Quick Summary
This discussion clarifies whether a business can claim Goods and Services Tax (GST) credit on the purchase of a bike for company use. According to Section 17(5) of the CGST Act, input tax credit (ITC) on vehicles is generally blocked. Therefore, you cannot claim the 28% or 18% GST paid on a bike purchased under the firm's name.

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Chartered Accountant
86505 Points Posted on 19 January 2021
No. As per Section 17(5) , ITC on vehicle is blocked.
1 Reply
On 19 January 2021 at 11:10
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133 Points Posted on 19 January 2021
No ITC can not be claimed as per 17(5).the same is blocked.
2 Reply
On 19 January 2021 at 11:31
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Accountant
4533 Points Posted on 19 January 2021
As per provisions of cgst act is blocked under section 17 subsection 5.
5 Reply
On 19 January 2021 at 22:34

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