Question ID :
41139
Ineligible under section 17(5) of CGST ACT, 2017
ITC on bank charges/ processing fees, etc. for loan for vehicle's purchase is ineligible under section 17(5) of CGST ACT, 2017 or not?
Posted by
Akshay Verma
on
Sep 09, 2021
Filed Under
GST
Eligible based on seating capacity of vehicle, (1) Motor Vehicle for transportation of person having approved seating capacity of not more than 13 persons(including driver of vehicle).
Except when used for:
1. Further Supply of Vehicles
2. Transportation of passenger (transport Agency)
3. For Training Classes
Posted by
Hari Beldona on
Sep 09, 2021
Answer ID :
81311
Yes. It is not fall under blocked credit u/s.17(5). ITC is not available "on" vehicle. But ITC on expenses relating to vehicle is allowed.
Posted by
CA. chunauti dholakia on
Sep 09, 2021
Answer ID :
81338
Ineligible. Expenses incurred related to vehicles on which ITC not allowed will also be ineligible.
Posted by
VINAY BHARGAV KUMAR G on
Sep 23, 2021
Answer ID :
81358
ineligible
Posted by
CA JEET REWRI on
Nov 16, 2021