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

AI Summary

Eligibility of ITC on Lorry Purchase for Water Supply Business Requires Clarification on Tax Laws A proprietor company engaged in the tanker lorry water supply business inquired about the eligibility to claim input tax credit (ITC) on a lorry purchased in the proprietor's name. Additionally, the company questioned if ITC could be claimed when no tax is paid on water supply bills. The response indicated that the query was unclear, suggesting a need for more information or clarification regarding the circumstances and applicable tax laws.