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itc on car tyres

23 September 2017

hello sir i m proprietor of my firm can i take Gst benfit as itc on purchases tyres for car that registrar by my name
aman goel

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42 Replies

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 23 September 2017

No you cant as same is for your personal consumption.....

aman goyal (125 Points)
Replied 23 September 2017

if i purchase it on company gst no

aman goyal (125 Points)
Replied 23 September 2017

sorry on firm gst no

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 23 September 2017

Then also you can't claim as no gst available for motor vehicle u/s 17(5)

RAJA P M ("Do the Right Thing...!!!") (127140 Points)
Replied 23 September 2017

Yes... You can take ITC as using your business.... u/s 17(5)

1 Like

chandan.ramsinghani@gmail.com (116 Points)
Replied 23 September 2017

No you are not eligible for itc...as the intention of law is clear...any item relevant to main product which is covered under negetive list are not entitled for credit...accordingly main product including vehicle any attached item are also not entitled...its better for u to obtain a repair bill instead of tyres and claim the itc....if its comfortable to vendor...as repairs are entitled for itc...

RAJA P M ("Do the Right Thing...!!!") (127140 Points)
Replied 23 September 2017

What is exactly said Sec 17(5)...? I can't understand for the replies. It's not going single way.... It's going multiple way. Then which is correct...?

https://www.caclubindia.com/forum/details.asp?mod_id=424685&offset=1

anshul aggarwal (Consultant) (1074 Points)
Replied 23 September 2017

ITC on vehicle repair and maintenance is allowed only if vehicle is used for business purpose. tyre replacement also comes under this category.

1 Like

RAJA P M ("Do the Right Thing...!!!") (127140 Points)
Replied 23 September 2017

Yes I agreed to Mr Anshul Aggarwal...

You are exactly correct. I appreciate you....

aman goyal (125 Points)
Replied 23 September 2017

sir its very confusing pls tell me exactly

anshul aggarwal (Consultant) (1074 Points)
Replied 23 September 2017

Dear Aman,

First of all ask your tyre dealer if he is ready to give B2B invoice in name of your company. There has been cases in which dealer has refused to give tax invoice in name of company mentioning GSTIN. One such case has been reported by us to Additional Commissioner for action on car tyre dealer.
Secondly are you taking any depreciation of your car in your business that also proves that car is being used for business because one can own more than one car. Car only used for business will come under ITC claim.

If you can get the bill in your company name with GSTIN then this ITC will