ITC ON VEHICLE
Priyokumar Thounaojam (148 Points)
20 April 2019
how to claim itc for vehicle purchase for transportation.
Priyokumar Thounaojam (148 Points)
20 April 2019
CA. Punith Harish
(PRACTICING CHARTERED ACCOUNTANT)
(445 Points)
Replied 20 April 2019
As per section 17 (5) input tax credit shall not be available in respect of the motor vehicles and other conveyances, however, following are the exceptional to the same –
If you are using the vehicle for transportation business you can consider the same as capital assets and claim the ITC on the same.
Priyokumar Thounaojam
(148 Points)
Replied 20 April 2019
Pankaj Rawat
(GST Practitioner)
(55032 Points)
Replied 21 April 2019
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