car repair and car insurance
Query (Issue) Started By: – satbir singhwahi Dated:- 14-8-2018 Last Reply Date:- 7-9-2018 Goods and Services Tax – GST
Got 14 Replies
GST
whether itc on car repair and car insurance available to a business concern
\nReply By Rajagopalan Ranganathan:
\nThe Reply:
\nSir,
\nAccording to Section 16 (1) of CGST Act, 2017 "every registered person shall, subject to such conditions and restrictions as may be prescribed and in the manner specified in section 49, be entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n hi: = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n the work would have to "in relation to" then I agree the credit is not eligible. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" car repair and car insurance Query (Issue) Started By: – satbir singhwahi Dated:- 14-8-2018 Last Reply Date:- 7-9-2018 Goods and Services Tax – GSTGot 14 RepliesGSTwhether itc on car repair and car insurance available to a business concern Reply By Rajagopalan Ranganathan: The Reply: Sir, According to Section 16 (1) of CGST Act, 2017 "every … Continue reading “car repair and car insurance”<\/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-13231","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13231","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=13231"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13231\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nThe Reply:
\nThanks Sir
\nReply By Himansu Sekhar:
\nThe Reply:
\nYes, the ITC is not allowed
\nReply By satbir singhwahi:
\nThe Reply:
\nSir
\npls give if any circular
\nReply By DR.MARIAPPAN GOVINDARAJAN:
\nThe Reply:
\nThe advice given by Shri Renganathan is sufficient.
\nReply By satbir singhwahi:
\nThe Reply:
\nSir
\nIs there any circular recently that says car repair and car insurance not available.Pls guide.
\nReply By Rajagopalan Ranganathan:
\nThe Reply:
\nSir,
\nCircular will be issued only to clariffy any ambiguity arising out of legal provisions. Here the law is very clear and hence no circular is required to be issued. As far as my knowledge goes there is no circular issued by CBIC on this matter.
\nReply By Himansu Sekhar:
\nThe Reply:
\nIf the car i<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nReply By Ramaswamy S:
\nThe Reply:
\nThank you Mr Ganeshan for the clarification.
\nIf the repair and insurance service is paid by the business concern for business purpose it is allowed, If paid by the business concern for personal consumption not allowed in terms of Section 17(5) (g).
\nRegards
\nS.Ramaswamy
\nReply By alok saxena:
\nThe Reply:
\nSir
\nHow it clear that car use in person or Business work .once car use only pick & drop to resi to work place and rest time use in Business work and holiday and weekly off day use in personal work. than what status.
\nReply By Ramaswamy S:
\nThe Reply:
\nAfter the amendment in Section 17 of CGST Act effective 29th Aug<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n