Input tax credit on JCB
Query (Issue) Started By: – Prateek Agrawal Dated:- 30-6-2018 Last Reply Date:- 7-7-2018 Goods and Services Tax – GST
Got 14 Replies
GST
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
\nReply By YAGAY and SUN:
\nThe Reply:
\nIn our view ITC would be available to you.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nI am also of the view that input tax credit is eligible.
\nReply By Alkesh Jani:
\nThe Reply:
\nSir,
\nI agree with the views expressed by our experts
\nThanks
\nReply By Himan<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n agreement. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n is in course or furtherance of the business hence credit is eligible. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Input tax credit on JCB Query (Issue) Started By: – Prateek Agrawal Dated:- 30-6-2018 Last Reply Date:- 7-7-2018 Goods and Services Tax – GSTGot 14 RepliesGSTAn 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 … Continue reading “Input tax credit on JCB”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12430","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12430"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12430\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nReply By Alkesh Jani:
\nThe Reply:
\nSir,
\nMy view is based on the Notification No.11\/2017-CT (Rate) dated 28\/06\/2017 as amended from time to time. The Sl.No.17 which refers to HSN code 9973 i.e. lease or rental service, wherein, it is stated that temporary or permanent or permitting the use …… Therefore, without its repair one cannot use and even temporary use, the repairing charges are normally borne by the user. It can be conclude that the user is temporary owner of the machinery. Hence, ITC is available.
\nFurther, If, by way of agreement, such charges are reimbursed by the actual owner, then I would say, ITC is not available.
\nOur experts may correct me if mistaken.
\nThanks
\nReply By Himansu Sekhar:
\nThe Reply:\n<\/p>\n
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\nReply By YAGAY and SUN:
\nThe Reply:
\nPlease check the Explanatory Notes to the Scheme of Classification of Services under GST Regime.
\nReply By DR.MARIAPPAN GOVINDARAJAN:
\nThe Reply:
\nIn my opinion the views of Shri Alkesh is correct.
\nReply By AKSHAY NAIK:
\nThe Reply:
\nDear Sirs,
\nIs Input Tax Credit available on Hiring services of Crane for moving of inventory in stores\/warehouse?
\nThanks,
\nReply By KASTURI SETHI:
\nThe Reply:
\nYes. It is available. Hiring of crane is classified under the category of "Right to use \/supply of tangible goods". It conforms to the definition of "in business or furtherance of business."
\nReply By Himansu Sekhar:
\nThe Reply:
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