WebOct 19, 2024 · Reply— A taxpayer can claim ITC on purchase of motor vehicle (goods deliver vehicle) when used for transportation of goods provided it is exclusively used for Transportation of goods. ITC of GST paid on purchase of bike (two-wheeler) will not be available. Posted Date: Oct 19, 2024 WebInformation on how to recover the GST/HST paid or payable on purchases and expenses related to your commercial activities, including if you are eligible to claim ITCs, how to calculate ITCs, how to claim ITCs, the time limit to claim ITCs, and records you need to …
Can we claim GST credit on bike purchase? - Questions-Dream
WebExamples of operating expenses for which you may be eligible to claim an ITC are: home office expenses (restrictions apply, see Line 9945 - Business-use-of-home expenses) motor vehicle expenses (restrictions apply, see Motor vehicle expenses) office supplies (such as postage, computer disks, paper, and pens) travel such as hotel, airfare, rail ... WebNov 2, 2024 · For claiming both the benefits, you have to buy goods and services from a seller who is registered under GST, and GST @ 12% or higher is payable on such goods or services. fanvil x5s power supply
Can we claim GST for purchasing a bike for office usage to ... - Quora
In CMS Info Systems Limited [2024] 96 Taxmann.com 292 (AAAR-Mah.), held that where the applicant is engaged in transportation of cash from currency chest to bank branches and for this purpose, it purchased a cash carry van after payment of GST, ITC of GST paid on purchase of the said van is not available to the … See more ITC is admissible on purchase of tippers and dumpers as they are not ‘motor vehicle’- (based on FAZ by Directorate General of Taxpayer Services on 31-07-2024) See more Held in the case of Chowgule Industries Pvt. Ltd. (Mah. AAR) that the car dealer shall be entitled to ITC charged on inward supply of motor vehicle which is used for demonstration purpose in the course of business of supply of … See more WebEffective from July 1, 2024, the tax on bikes and two-wheelers up to 350cc has come down and hence are going to cost 3-5% cheaper. However, motorbikes with 350cc displacement and above will attract an additional … WebMay 26, 2024 · Pls clarify :- can we avail the ITC of GST paid on purchase of bike, Thanks & Regards Dilip Awasthi CA Himanshu Ojha (Expert) Follow 26 May 2024 Under section 17 (5) of CGST Act, there are certain supplies on which input tax credit under GST is not … fanvip vip download