Menu
ITC on car purchase.
Can i take the gst credit on car purchase related to Business if yes than whats the ITC rule can i take at a time or should i divide it by 5 years and take part credit on monthly basis.
Replies (5)
NO. ITC blocked for car u/s. CGST sec. 17(5)
No....
ITC on Motor Vehicles is specifically BLOCKED u/s 17(5) of the CGST Act 2017...
ITC on Motor Vehicles is specifically BLOCKED u/s 17(5) of the CGST Act 2017...
ITC is not available for Motor Vehicles used to transporting person, having a seating capacity of less than or equal to 13 person (including the driver), including leasing or hiring thereof.Please See the Clause of Section 17(5)-Blocked ITC.
Annual Return in the FORM GSTR-9 / FORM GSTR-9A and Reconciliation Statement and Audit Report in FORM GSTR-9C for the financial year 2017-18 has been extended from 31st August, 2019 to 30th NOVEMBER, 2019.
REMOVAL OF DIFFICULTY ORDER No. 07/2019-CT dated 26.08.2019, issued by the CBIC Department.
Hence, the latest Due Date to file ANNUAL RETURN ( GSTR-9 and GSTR-9A ) and Reconciliation Statement and Audit Report ( GSTR-9C ) is 30.11.2019.
REMOVAL OF DIFFICULTY ORDER No. 07/2019-CT dated 26.08.2019, issued by the CBIC Department.
Hence, the latest Due Date to file ANNUAL RETURN ( GSTR-9 and GSTR-9A ) and Reconciliation Statement and Audit Report ( GSTR-9C ) is 30.11.2019.
If ITC already taken how to reverse it and if there is any other method please let me know
Recent Topics :
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
- TDS on Property Purchase Paid
- Cash Purchase Above ₹10,000, ITR/40A(3) Trea
- TDS on dividend to non resident shareholders
Related Topics :
CAclubindia
