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Vehicle purchase for business

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TAUQIR KHAN

60 Points Posted on 14 February 2023

I purchased a delivery van in the month of December 2022, Mahindra Jeeto, for delivery of medicines to my clients to boost up my wholesale business after paying about 44000/- as GST . How can I avail ITC. Can I avail it all in one installment in January or spread it to a few installments in later months' returns?

Replies (4)

Quick Summary

This discussion addresses how to claim Input Tax Credit (ITC) for a Mahindra Jeeto delivery van purchased for a wholesale medicine business. The user paid £44,000 in GST and seeks clarification on whether the ITC can be claimed in a single January instalment or spread across later months. Advice suggests claiming the full ITC in one instalment as it relates to a single purchase invoice.

CA Rashmi Gandhi

Chartered Accountant

44487 Points Posted on 15 February 2023

Avail it in one instalment.

NEERAJ JINDAL

87 Points Posted on 15 February 2023

GST of the purchase of vehicle will be available to you under single invoice as raised by the dealer.

Hence you should claim it in One installment.

sabyasachi mukherjee

Profession

19978 Points Posted on 15 February 2023

Possible to claim

TAUQIR KHAN

60 Points Posted on 26 March 2023

Please refer to GSTR 2 A and 2B for the month of April 2022. Many invoices that appeared in 2A didn't show in 2B due to some technical failures on the GST website. I hoped that these invoices would appear in subsequent months, but that didn't happen till now and till date . I couldn't avail ITC of such invoices that though appeared in 2A but were absent in 2B. My question is how to claim ITC of such invoices now. thanks