Related to ITC

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6 Points Posted on 03 February 2021
If Any fish merchant buy a truck for transport of goods( fish) then it will be eligible for itc ?
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On 03 February 2021 at 20:16 Report
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Quick Summary
This discussion clarifies the eligibility of Input Tax Credit (ITC) for trucks purchased by businesses. If a fish merchant buys a truck solely for transporting exempt fish supplies, ITC is generally blocked. However, if a truck is used for transporting taxable goods, ITC may be applicable.

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Chartered Accountant
86505 Points Posted on 03 February 2021
No as supply of fish is exempted. Such ITc is blocked u/s 17(3)
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On 03 February 2021 at 23:56
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6 Points Posted on 07 February 2021
Suppose if supply any taxable products and buy a truck and used for transpo of goods then it will eligible for itc
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On 07 February 2021 at 11:14
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Chartered Accountant
86505 Points Posted on 07 February 2021
Yes then applicable
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On 07 February 2021 at 11:24

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