Can anybody tell me about motor vehicle blocked credit when it is blocked while renting or while purchasing?

Question

Eshita · Answer

Got it

Krishna@31 · Answer

Subject to section 9(3) and 9(4)

Krishna@31 · Answer

U can never apply rcm on purchase of any asset

Krishna@31 · Answer

Both are different transactions

Krishna@31 · Answer

Rcm taxability will never change

Krishna@31 · Answer

U will get itc on purchase and rcm will apply if u further Rent it

Eshita · Answer

Ok....but if as per itc capacity exceeds then it's also taxable under rcm know

Krishna@31 · Answer

RCM is for renting purpose for which seating capacity doesn't matter

Eshita · Answer

Okk

Krishna@31 · Answer

Since covered under EXCEPTIONS mentioned above

Krishna@31 · Answer

Yes u can claim ITC

Krishna@31 · Answer

Seating capacity is including driver and if it is less than 13 than no ITC is allowed except in 3 cases: 1.if it is used for further supply. 2.passenger transportation. 3.training and driving of such motor vehicle.

Eshita · Answer

So that means if it is used for renting or hiring purpose and passenger capacity is upto 13 then blocked or else taxable under rcm?

Krishna@31 · Answer

When it is used for transportation of persons approved and seating capacity is more tha. 13 then ITC is allowed without any restrictions

Kinjal · Answer

Credit

Krishna@31 · Answer

Purchase

Kinjal · Answer

Motor vehicle ni purchase ni credit no mle so Teni services pn no mle

Can anybody tell me about motor vehicle blocked credit when it is blocked while renting or while purchasing?

17 answers

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