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GST update on admissibility of Input Tax Credit on the services related to motor vehicles

Goods and Services Tax - GST - By: - Pradeep Jain - Dated:- 3-1-2018 Last Replied Date:- 4-1-2018 - :- Section 17(5) of the CGST Act, 2017 prescribes the list of blocked credits and this lists allows the ITC on few goods and services on conditional b .....

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otor vehicles and other conveyances except when they are used- (i) for making the following taxable supplies, namely:- (A) Further supply of such vehicles or conveyances; or (B) Transportation of passengers; or (C) Imparting training on driving, flyi .....

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sed in the above clause. Some experts are of view that it has wider impact and covers all the goods and services that are relatable to motor vehicles. The other school of thought is of the view that this phrase is very restricted and is limited to IT .....

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clarification has been given as follows:- Whether GST paid on insurance and repairs on vehicles is allowed, when vehicles is used for Business purpose only? ITC is allowed. Thus, Government is also changing its stand. The Government has taken restri .....

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striction. Thus, going by this clarification, all the other services that are related to motor vehicles are admissible as input tax credit. It is worthwhile to mention here that these FAQs have no legal validity, but since the language has different .....

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BYPRADEEPJAIN/ as well as follow us on Twitter at https://www.twitter.com/@capradeepjain21 - Reply By JAIPRAKASH RUIA - The Reply = When the clear cut guide lines are not there, below points go in favour of taking the credit. 1) Concept of GST endors .....

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