RAMESH (Accounts Manager ) (48 Points)15 November 2018
Regarding ITC on car purchase have some clarification, that is one car purchased in the name of an individual (Having GST Registration) and the vehicle is given to an partnership firm in an rental basis (Furnished all rental conditions) for their business purpose. That individual is also an one partner of that firm. In this scenario that individual can take the input credit ? Any issues comes in Audit ? Please advise an valuable solution.