Itc on lease amount is allowed

259 views
User Avatar

22 Points Posted on 20 May 2020
in lease amount itc paid, can i eligible for taken credit of itc
0 Reply Share Follow
On 20 May 2020 at 12:55 Report
Replies (3)
Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) can be claimed on lease payments. Generally, ITC is permissible on lease amounts, with the exception of specific items like motor vehicles or others explicitly disallowed under Section 17(5) of the relevant tax legislation. Further clarification is sought regarding the specific type of leasing in question.

User Avatar

Partner - Audit & Assistance
4825 Points Posted on 20 May 2020

Generally yes, unless it is in relation to leasing of motor vehicle or any other item specifically disallowed in Section 17(5)

Reply
On 20 May 2020 at 14:27
User Avatar

1167 Points Posted on 20 May 2020
Please clearly alobrate your query
Reply
On 20 May 2020 at 14:58
User Avatar

GST Practitioner
55067 Points Posted on 21 May 2020
Yes kindly clarify leasing what ????
Reply
On 21 May 2020 at 00:09

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Foreign remittance
  2. Affordable Residential Flats in Gurgaon
  3. Manufacturing
  4. TAN REGISTRATION ON E-FILLING SITE
  5. Form 10-IEA – Continuing Old Regime
  6. Income tax act 2026
  7. Belated Return where Form 10IEA filed this year to
  8. GST Reconciliation Tool (2A vs Books) - looking fo
  9. TDS ON PF FORM 19 WITHDRAWAL
  10. Can a virtual office in Mumbai be used for company

More recent discussions | Post

Related Topics :

Loading