ITC availibility on fork lifter

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..... ITC availibility on fork lifter
Query (Issue) Started By: - KARAN VERMA Dated:- 26-2-2020 Last Reply Date:- 4-5-2020 Goods and Services Tax - GST
Got 7 Replies
GST
Sir Whether ITC allowed on fork lifter used for moving finished goods with in factory. Reply By MUKUND THAKKAR: The Reply: Yes you can availed credit, Reply By CAVenkataprasad Pasupuleti: The Reply: Yes. It is eligible .....

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..... Reply By KASTURI SETHI: The Reply: Yes. ITC is allowed. Credit on Fork Lift was allowed in pre-GST era also. Now definition of 'Capital Goods' is more liberal. See the definition. As per Section 2(19) of CGST Act "capital goods" means goods, the value of which is capitalised in the books of account of the person claiming the input tax credit and which are used or intended to be us .....

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..... ed in the course or furtherance of business; Some of case laws pertaining to pre-GST era are mentioned below: 2001 (130) E.L.T. 876 (Tri. - Chennai) = 2001 (3) TMI 321 - CEGAT, CHENNAI COMMISSIONER OF CENTRAL EXCISE, COIMBATORE Versus ELGI EQUIPMENTS 2000 (125) E.L.T. 555 (Tribunal) = 1999 (12) TMI 453 - CEGAT, MADRAS COMMISSIONER OF C. EX., TRICHY Versus RAVI SHANKAR FILMS (P) LTD. Reply By C .....

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..... ASusheel Gupta: The Reply: ITC is blocked for motor vehicles used for passenger transportation (subject to certain exceptions) only. There is no restriction on ITC on vehicles used for transportation of goods CA Susheel Gupta 9811004443/8510081001 Reply By KASTURI SETHI: The Reply: Fork lift is meant for transportation of goods only in the factory. It does not ply on road as other motor v .....

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..... ehicles meant for transportation of passengers. Reply By YAGAY andSUN: The Reply: It is allowed as definition of Motor Vehicles was amended in last budget 2019. Reply By YAGAY andSUN: The Reply: Since, phrase "other conveyance" from Section 17(5) of the CGST Act, 2017 had been deleted, therefore, Input tax credit would now be available in respect of dumpers, work-trucks, fork-lift trucks and o .....

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..... ther special purpose motor vehicles.
Discussion Forum - Knowledge Sharing .....

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