Availing of ITC in commercial vehicles purchased before GST
Have purchased commercial vehicles for transportation of Goods on June 2017. Vat has been paid while purchasing these goods, therefore wanted to understand whether one could avail ITC of VAT in GST through TRANS 1 form.
Vehicle Type - LCV
Used for renting and transportation
Asked 12 months ago in VAT from Pune, Maharashtra
Yes, ITC for capital goods purchased before GST implementation can be claimed through TRAN1 form.
50% of VAT CREDIT is availed in 2017-18 via TRANS 1 and rest 50% in 2018-19 through TRANS 1 or applicable form at that time
yes you can avail balance ITC through TRANS forms
Have you claimed ITC in VAT ???
If you haven't then you claim the same under GST.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Rohit R Sharma
BCOM, FCA, LLB, CERT. FAFP