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EASYOFFICE

EASYOFFICE

ITC ON NEW CAR PURCHASE

Sunil Nahata (90 Points)

10 September 2018

purchase new car in prop.firm can IT Ç be claimed.if yes then on which . car price +road tax and insurance charges.

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10 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 10 September 2018

ITC not available for the purchase of Car except it's related business activities

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Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 10 September 2018

As per section 17(5) of CGST Act, input tax credit will not be available in respect of motor vehicles and other conveyances, except when

such motor vehicles or other conveyances are supplied further, or

used for transportation of passengers or giving training on driving, flying, navigating such vehicles or conveyances or

are used for transportation of goods.

Hence, if your firm does a business that falls under any of the categories mentioned above, it can claim the input tax credit.

Sunil Nahata (90 Points)
Replied 10 September 2018

thanks for advising

Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 10 September 2018

Welcome, you can claim as depreciation now on IT Act for the same, as you are not able to take ITC on the same.

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Basavaraj G Yenni (2 Points)
Replied 04 January 2019

Could you please give some more information on how it can be claimed under IT and how much % will be benefited to me

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atin paul (28 Points)
Replied 11 April 2019

I have a car on uber as well as i have another tarding business. So may i claim input on purchase of car?

Jitesh Sinha (other) (280 Points)
Replied 11 April 2019

Yes, ITC can be availed as the car is used for carrying passengers.

atin paul (28 Points)
Replied 11 April 2019

is there any supporting judgement?

venkat (accounts executive) (39 Points)
Replied 23 December 2019

I will purchase new car 7 sea-tar for business purpose can i take ITC

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 23 December 2019

Originally posted by : venkat
	I will purchase new car 7 sea-tar for business purpose can i take ITC

No... Except it's to related business or Transporting

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