Can input tax credit on purchase of a motor car for business be utilized? If yes, how?

Can input tax credit on the purchase of a motor car for business be utilized? If yes, how?

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4 Answer(s)

Yes. at the time of purchased Car and and tax paid on it is transferred in credit ledger than we can utilized credit

Answered on July 12, 2017.
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How to utilise the credit?

Answered on July 12, 2017.
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Under gst there are three ledgers 1- input tax credit ledger 2-cash ledger 3-output tax liabilities ledger Input tax credit transferred into output tax ledger than can we set – off

Answered on July 13, 2017.
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In case of purchase of car even for business no input tax credit available.

Answered on July 13, 2017.
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Your Answer

Gen GST