Agreed with Yash Jain...
Claim depreciation on that amount
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itc on car tyres
In My View.,
Also not available above said way for depreciation if it's used for self and Business....
Also not available above said way for depreciation if it's used for self and Business....
I can take the input of the truck's tires.
sir, i am in business in edible oil distributership i own a truck and also propritor of my firm .
I use this truck to transportation of goods which i purchase from companies to my warehouse.
can i get ITC on tyres purchase for my truck as my business is not tranporter i use my truck for only for my business goods movement
You can claim as truck is used for movement of goods.
Sir i am purchase the Tyre for Truck on firm gst no. truck mention in firm Balance Sheet than wer are useing ITC on Tyre purchas. Give mi suggestion.
CAN ITC CLAIM FOR REPAIR OF TYRES
You can't claim ITC as same is restricted u/s 17(5)
ITC cannot be claimed on car tyres as it is restricted by section 17(5). However, you can get damaged tyres replaced if the tyre maker provides limited time unconditional warranty. For example, Apollo Tyres offers up to 5 years of warranty on some of their car and SUV tyres, which includes a 2-year unconditional warranty for all kinds of tyre damage (impact, sidewall, etc.)
It can be understood by the r/c book of the particular vehicle whether it's a private or commercial vehicle.
One can't use a private vehicle (white number plate) for commercial purpose like hiring or transporting.
Commercial cars will have a yellow number plate
As per section 17(5), repairs and maintenance of vehicles having seating capacity of less than 13 persons are blocked. So in the current situation it is irrelavant that you are getting bill in the name of firm or not. in both cases purchase of tyres are blocked.
Even if you are planning to capitalize the tyres, then purchase of motor vehicles is blocked under 17(5)
in short, you can't claim the input eventhough you are showing as capital nature or revenue nature
For any further clarification, feel free to revert back
Sir mera work scrap ka hai or maine chota hathi liya hai scrap ko deliver karne ke liye
es par input mil sakta hai agar new Tyre purchase karu to
Sir mera work scrap ka hai or maine chota hathi liya hai scrap ko deliver karne ke liye
es par input mil sakta hai agar new Tyre purchase karu to
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