ITC clainm on purcahse of commercial vehicle.

[ankur sood]

I am a C&F agent and transporter for a company and registered under GST. We generate the transport bills to the company under Reverse mechanism. Can we claim input tax credit on the purchase of new commercial vehicle to be used in my company. Also if yes in whose name should we purchase the vehicle.

[Ramesh Kothari]

If vehicle purchase in name of co. ITC available

AI Summary

Input tax credit on commercial vehicle is available if purchased in the company's name for business.
A GST-registered C&F agent/transporter asked if ITC is claimable on a new commercial vehicle and in whose name it should be purchased; the reply states ITC is available when the vehicle is purchased in the company's name for business use.