ITC on motor vehicle

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Sr.ACCOUNTANT
261 Points Posted on 09 June 2020
can we tack ITC of vehicle used for movement of cash from shop to bank

we are in retail industry. and having huge cash balance on daily basis
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On 09 June 2020 at 15:34 Report
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Quick Summary
Input Tax Credit (ITC) on motor vehicles used for transporting cash from a retail shop to the bank is generally not available. This is because Section 17(5) of the CGST Act blocks ITC for such uses. While there are exceptions for banks under specific conditions, retailers typically cannot claim this ITC.

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404 Points Posted on 09 June 2020
No ..not available
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On 09 June 2020 at 16:25
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588 Points Posted on 09 June 2020
ITC not available.
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On 09 June 2020 at 17:10
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Student
1321 Points Posted on 09 June 2020
No blocked u/s 17(5)(a)
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On 09 June 2020 at 17:27
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4215 Points Posted on 09 June 2020
Which industry belonging
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On 09 June 2020 at 21:26
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GST Practitioner
55067 Points Posted on 10 June 2020
No you cannot .... As it's block U/S 17(5).

Note : For banks ITC is available subject to conditions prescribed in Section 17(4) of CGST Act
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On 10 June 2020 at 01:19

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