Itc on transport vehicle..

sir
I am selling wood pieces(fire purpose) to companies with our own vehicle. (lorry)
now can I take itc for this vehicle
Replies (3)
Quick Summary
This discussion explores the eligibility for claiming Input Tax Credit (ITC) on vehicles used for transporting goods, specifically wood for fire purposes. While general GST provisions may restrict ITC on such vehicles, there are potential loopholes and considerations, especially if the vehicle is also used for exempted supplies. Proportional reversal of ITC might be necessary in certain scenarios.

Yes u can avail ITC on same.
As per provisions of GST you cannot take ITC but there are loophole to misuse the provisions
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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