TaxTMI 
TaxTMI 
An agreement with JCB owner that we will pay monthly rent of ₹ 50000/- to him if any repair and maintenance of JCB will bear by us . If any repair and maintenance done by us and invoices are prepared in our company name can we take INPUT TAX CREDIT of the same in our books of A/c
Input tax credit on JCB
30 Jun 2018 
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Input tax credit eligibility on repair and maintenance of hired machinery depends on who bears and is invoiced for the expense.
Input tax credit availability turns on whether repair and maintenance services for hired machinery are invoiced to and borne by the user; if the user pays and holds invoices in its name, prevailing expert opinion favours ITC, whereas if the owner bears or reimburses those charges or remains the effective recipient, ITC by the user is questionable. (AI Summary)
Input tax credit availability turns on whether repair and maintenance services for hired machinery are invoiced to and borne by the user; if the user pays and holds invoices in its name, prevailing expert opinion favours ITC, whereas if the owner bears or reimburses those charges or remains the effective recipient, ITC by the user is questionable. (AI Summary)