ITC on New Car Purchased in the name of company for Directors use for business purpose

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2 Points Posted on 03 May 2021
This is a Private Limited Company, the car is purchased in the name of company and the car is used for business purpose by the directors. Shall we take the ITC on car purchased after deducting the 25% ITC is used for personal purpose.
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On 03 May 2021 at 10:48 Report
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Quick Summary
This discussion clarifies whether a private limited company can claim Input Tax Credit (ITC) on a car purchased in the company's name for director use, even if primarily for business. The consensus indicates that ITC is generally not available for such vehicle purchases due to blocked credit provisions under Section 17(5), regardless of business use.

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GST Consultant
15986 Points Posted on 03 May 2021
ITC not available for car
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On 03 May 2021 at 11:15
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Chartered Accountant
24588 Points Posted on 03 May 2021
No you cannot claim ITC in this case
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On 03 May 2021 at 12:05
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Profession Business
28246 Points Posted on 03 May 2021
Blocked credit u/sec 17 (5)
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On 03 May 2021 at 16:05

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