ITC on Loan Repayment

This discussion clarifies whether Input Tax Credit (ITC) can be claimed on GST paid for car and home loan repayments. Generally, ITC is not available for these expenses. For car loans, it's restricted under Section 17(5) of the CGST Act as a blocked credit. For home loans, ITC is typically unavailable as these repayments don't meet the conditions of Section 16, which requires the goods or services to be used in the course or furtherance of business.