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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

Answer ID : 81310

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