Motor Vehicle Credit
Khan & Associates (73 Points)
26 November 2018
If i am purchasing a car for Business marketing purpose only, can i take credit of Motor Vehicle Purchase invoice
1 Replies
Hitesh
(Student)
(3549 Points)
Replied 26 November 2018
Notwithstanding anything that sub-section (1) of section 16 and subsection (1) of section 18 contains, ITC will not be available in respect of the following, namely:
motor vehicles and other conveyances apart from when they are used–
for transporting the goods; or
for making the following taxable supplies, namely:
further supplying such vehicles or conveyances; or
transporting the passengers; or
imparting training on driving, navigating, flying such vehicles or conveyances;
If you are using motor vehicle for the above mentioned purposes then credit is available else credit is blocked
motor vehicles and other conveyances apart from when they are used–
for transporting the goods; or
for making the following taxable supplies, namely:
further supplying such vehicles or conveyances; or
transporting the passengers; or
imparting training on driving, navigating, flying such vehicles or conveyances;
If you are using motor vehicle for the above mentioned purposes then credit is available else credit is blocked
Recent Topics
Related Threads
Trending Online Classes
CAclubindia
