TaxTMI 
TaxTMI 
whether itc on car repair and car insurance available to a business concern
car repair and car insurance
14 Aug 2018 
14 Replies 
5958 Views Asked by
Input tax credit on motor vehicle services limited; eligible only for resale, passenger transport or driver training uses.
ITC for car repair and insurance is available only where the vehicle is used in the course or furtherance of business and falls within the Section 17(5) exceptions: further supply of such vehicles, transportation of passengers, imparting driver training, or transportation of goods. Otherwise, ITC is not allowed; a subsequent amendment further restricts credit on repair and insurance except as expressly permitted by the revised provision. (AI Summary)
ITC for car repair and insurance is available only where the vehicle is used in the course or furtherance of business and falls within the Section 17(5) exceptions: further supply of such vehicles, transportation of passengers, imparting driver training, or transportation of goods. Otherwise, ITC is not allowed; a subsequent amendment further restricts credit on repair and insurance except as expressly permitted by the revised provision. (AI Summary)