I have bought a new car. Shall I take claim GST amount in one time?

I have bought a new car. Shall I take claim GST amount in one time?

Asked on August 29, 2017 in Miscellaneous.
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2 Answer(s)

You can not claim Gst. this is consumer based transaction. if a vehicle is purchased for only factory use and used only in factory premise then only its Gst can be claimed as ITC.

Answered on August 29, 2017.
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If the Car brought is used in the furtherance of business you can avail the ITC. With respect to whether to take the credit in a single year, yes you can take the credit in a single year. No need to split in two years like in previous law.

Answered on August 29, 2017.
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Your Answer

Gen GST