Question 13 - A taxable person is in the business of information technology. He buys a motor vehicle for use of his Executive Directors. Can he avail the ITC in respect of GST paid on purchase of such motor vehicle?
ITC on motor vehicles restricted; allowed only for businesses transporting passengers or goods or providing vehicle training. Input tax credit on motor vehicles is not available to a taxable person purchasing a vehicle for executive directors unless the taxpayer is engaged in ... Summary
ITC on motor vehicles restricted; allowed only for businesses transporting passengers or goods or providing vehicle training.
Input tax credit on motor vehicles is not available to a taxable person purchasing a vehicle for executive directors unless the taxpayer is engaged in transporting passengers or goods or providing motor vehicle training, in which cases ITC is permitted.
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