Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

CMA Poornima Madhava

CMA Poornima Madhava (CMA)     13 April 2021

ITC on Repair & Maintenance of Vehicle

Originally posted by : mahesh chitpur
whether itc is available on repair & maintenance of vehicles used for business purposes & also itc insurance of vehicles

Such input tax credits (even if used for business purpose) are specifically disallowed u/s 17(5) of CGST Act unless you are into the following:

i. Further supply of motor vehicles

ii. Transportation of passengers

iii. Imparting training on driving of such motor vehicle

iv. Imparting training on navigating / flying such vessels or aircraft

v. Transportation of Goods

For more details, refer https://taxguru.in/goods-and-service-tax/blocked-itc-gst-section-175.H T M L

 



 3 Replies

Sourav

Sourav (Student)     12 April 2021

Yes, ITC can be claimed on repairs and maintenance expenses for vehicles used for business purposes

In cases involving general insurance, services, repair or maintenance of a motor vehicle, vessels or draft (as given in point 1), the taxpayer cannot claim ITC.
Exceptions
ITC will be available if

Insurance is received by a taxable person engaged—
In the manufacture of such motor vehicles, vessels or aircraft; or
In the supply of general insurance services in respect of such motor vehicles, vessels or aircraft insured by him
RENU SHARMA

RENU SHARMA   12 April 2021

I agree with Sourav ji
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     13 April 2021

Originally posted by : mahesh chitpur
whether itc is available on repair & maintenance of vehicles used for business purposes & also itc insurance of vehicles

Such input tax credits (even if used for business purpose) are specifically disallowed u/s 17(5) of CGST Act unless you are into the following:

i. Further supply of motor vehicles

ii. Transportation of passengers

iii. Imparting training on driving of such motor vehicle

iv. Imparting training on navigating / flying such vessels or aircraft

v. Transportation of Goods

For more details, refer section 17(5) of CGST Act.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags