Respective
sir /madam
one of my client dealings in water supplies. now he want to purchase TRACTOR for transportation of his own products ( water) . in this case ITC on TRACTOR can be claimed??
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ITC ON TRACTOR PURCHASE FOR GOODS TRANSPORTATION
Replies (4)
Yes ITC can be claimed as it is used for furtherance of business and for transportation
ITC allowed provided all other conditions of section 16 and 17 are complied
Yes itc would be allowed as he is going to use tractor for business purposes
Yes ITC is definitely available...... but subject to conditions prescribed in section 17(2) it's available if your outward supply is taxable.
So in term of Rule 43 need to reverse the ITC in proportion to Exempted supply.
Note : Supply of water to MC is Exempted vide Notification 12/2017 CT (r)
So in term of Rule 43 need to reverse the ITC in proportion to Exempted supply.
Note : Supply of water to MC is Exempted vide Notification 12/2017 CT (r)
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