M/s NTC Private Limited, a registered taxable person is in business of information technology. The company buys a motor vehicle for use of its Executive Directors. Can it avail the ITC in respect of GST paid on purchase
CS Professional · Goods and Services Tax (GST) and Corporate Tax Planning · PYQS · June 2024
M/s NTC Private Limited, a registered taxable person is in business of information technology. The company buys a motor vehicle for use of its Executive Directors. Can it avail the ITC in respect of GST paid on purchase of such motor vehicle?
Answer & Explanation:
No. as per section 17(5) (a) of CGST Act, 2017 Input Tax on motor vehicles is not available. It inter-alia can be availed only if the taxable person is in the business of transport of passenger or is providing the services of imparting training on such motor vehicles.
Topics: Goods and Services Tax (GST)
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