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.

AI Summary

C&F Agent Can Claim ITC on New Commercial Vehicle Purchase if Registered in Company's Name Under GST Rules. A C&F agent and transporter, registered under GST, inquired about claiming input tax credit (ITC) on purchasing a new commercial vehicle for company use. The question also addressed the appropriate name under which to purchase the vehicle to avail ITC. The response clarified that ITC is available if the vehicle is purchased in the company's name.