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Itc on transport vehicle..

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ACCOUNTANT
524 Points Joined May 2011
sir
I am selling wood pieces(fire purpose) to companies with our own vehicle. (lorry)
now can I take itc for this vehicle
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On 11 January 2021 at 11:12 Report
Replies (3)
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Article Assistant
60 Points Joined February 2013
Yes u can avail ITC on same.
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On 11 January 2021 at 16:18
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Accountant
4533 Points Joined February 2017
As per provisions of GST you cannot take ITC but there are loophole to misuse the provisions
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On 16 January 2021 at 22:40
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Chartered Accountant
86505 Points Joined April 2011
If you are using it for exempted supplies also, then you have to reverse the ITC proportionately as per Rule 42/43
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On 23 January 2021 at 22:59

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