input credit

[shobiraj t]

sir,

sub: Request your kind advice - input credit availed (Trading of Goods)

we have availed input credit on motorbike (activa) during the year 2019-20, which is used for bank purpose and delivery of goods, but it is found that input credit is not allowed as stated by our consultant, kindly suggest the remedies

a) whether to refund the amount by submitting DRC 3 or we have a untilsed credit balance in our credit ledger , it is possible to reverse the claim in june 2020 GSTR-3B with interest

b) sir, whether it is possibe to claim input credit if we convert the private vehicle into commercial vehicle,

c) is it possible to reverse filed GSTR-3B of Jan 2020

kindly reply

[KASTURI SETHI]

Query-wise reply is as under :-

1. Yes. You can reverse through GSTR 3 B for June, 20. Interest will be paid in cash. For reversal, read Table No.4 Column No.(B) ITC Reversed (2) Others . Reverse against 'Others'.

2. NO.

3. NO.

[Alkesh Jani]

Shri.

I agree with the precise and perfect answer of Shri Kasturiji Sir.

[Ganeshan Kalyani]

I also agree with the reply of Sri Kasturi Sir.

[DR.MARIAPPAN GOVINDARAJAN]

I also endorse the views of Kasthuriji.

[ishan goel]

Hi Sir

Can i claim gst on cycle

AI Summary

Input Credit for Business Motorbike Not Allowed Under GST; Reversal Possible via June 2020 GSTR-3B with Interest An individual sought advice on availing input credit for a motorbike used for business purposes under the Goods and Services Tax (GST) framework. The consultant advised that input credit is not permissible. The queries included whether to refund the amount using DRC 3, reverse the claim in June 2020's GSTR-3B with interest, convert the vehicle to commercial for credit eligibility, or reverse the filed GSTR-3B of January 2020. Responses indicated that reversal through GSTR-3B for June 2020 is possible with interest paid in cash, but converting the vehicle or reversing the January 2020 GSTR-3B is not.