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Purchasing jcb
Our Client is a Contractor, they are buying the JCB for the business purpose. Can we adopt this for Input. whether to take input or not. please clarify the issue sir.
Replies (5)
Quick Summary
Yes input credit available to you
Yes you can claim input tax credit on the purchase of JCB
Yes ITC can be availed. Please group it under Plant & Machinery block under Fixed Assets
If it purchase by an hypotecation of bank ,u may claim ITC on bank service gst also.
Yes, ITC is available since your outward supply is kind of same nature.
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