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Can we take ITC of insurance of commercial vehicle mainly used in supplies of taxable good.
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Vehicle insurance ITC
Replies (6)
Yes, ITC is available on motor vehicles used for the transportation of goods
Thanks
Yes you can claim
You should note that... vehicle is only for the purpose of transport of goods... eg : Truck
If you are using passenger vehichle like Car for transport of goods... then ITC not allowed.
If you are using passenger vehichle like Car for transport of goods... then ITC not allowed.
Study the conditions laid down in Sec 17(5) and then decide.
Any commercial vehicle whose ITC was claimed then ITC is allowed for repairs , insurance, tyres and other expense relate to commercial vehicle.
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