Input credit on capital goods

[ravi purushothaman]

Sir,

1. Proprietor company doing tanker lorry water supply business. Company bought lorry in proprietor name. We can take input tax credit in this case

2. Water supply bills we are not paying tax. this case we take ITC

regards

RAVI.P

[DR.MARIAPPAN GOVINDARAJAN]

Your query is not clear.

AI Summary

Input tax credit availability for capital goods bought in a proprietor's name and unpaid-tax supplies questioned. Query concerns whether input tax credit is available when capital goods (a lorry) are purchased in a proprietor's personal name but used by a company, and whether credit can be claimed where the business's water-supply bills do not attract output tax; factual clarity and documentary nexus to taxable activity are identified as decisive factors.