motor credit input
Dear Sir,
Under section 17(5) of the CGST Act 2017 deals with the items on which credit is not allowed under GST.
ITC is not available for Motor vehicles used to transport persons, having a seating capacity of less than or equal to 13 persons (including the driver). Further, ITC is not available on vessels and aircraft.
For example, XYZ & Co. buys a car for their business. They cannot claim ITC on the same.
Items on which credit is not allowed
Motor vehicles and conveyances except the below cases
-Such motor vehicles and conveyances are further supplied i.e. sold
-Transport of passengers
-used for imparting training on driving, flying, navigating such vehicle or conveyances
-Transportation of goods
-food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery
But if the goods and/or services are taken to deliver the same category of services or as a part of a composite supply, credit will be available
Thank You.
Thank You #Shreya Maheshwari
Car rental is a very cool service. I use it both in everyday life, when I don't have access to my car, and on vacation. I think that on vacation it is a very cool opportunity to go to the places you planned to see. I did just that when I was in Alicante, rented a car on Rental24.co.uk and got even more impressions from my trip
Dear All,
An LLP has been incorporated. But, initial LLP agreement via form 3 is pending to be filled with ROC.
1. Now, due to some dispute between partners, they want to dissolve LLP is it possible as incorporation has been done just 2 months back??
2. Or whether any of one can resign and another can be added?
If we go for option 2, first we have to file the initial agreement and then only we can change the agreement, am I correct?
Whether strike off is possible?
Please reply.
Dear members,
the newly incorporated company wants to have two shareholders holding shares in 80:20 ratio, wants to change shareholding in the company to 50: 50 ratio
PLEASE ADVICE HOW TO GO AHEAD.
company incorporated newly shareholding change
Dear members,
If a company is converted into LLP, what about the Reserves and surplus outstanding in its balance sheet? Whether they become part of Balance Sheet of LLP after conversion or something else to be done?
kindly advice.
into company conversion
Dear members,
In the rules, it is mentioned that :
where the member of the reporting company is a body corporate (whether incorporated or registered in India or abroad), other than a limited liability partnership,
what does it mean, whether it means that if an LLP is a member of a reporting company and holding more than 10%, then it has to be ignored??
pls clarify, it will be very helpful for me, as I have one same case.
thanks
Dear Members
For foreign Director Passport copy with father's name is mandatory. But in China passport are issued without father name. Can anyone guide me what other options can be used while the formation of Pvt Ltd Company with One Chinese Director?
Regards
director chinese incorporation
Dear All
Please advice
if a reporting company is a wholly-owned subsidiary
Then when filing the BEN 2 which point is to be select
whether I have to tick
1.For a declaration of holding reporting company
or
2 For a declaration of Significant Beneficial Ownership under Section 90
I am confused
Because everyone has a different view.
Dear members
when one partner of LLP is Indian and other is Foreign National Residing abroad, how the LLP agreement is signed? if we get signed the agreement first from Indian partner and then send to Foreign National by courier to his address and he signs there in abroad and then sends back to us for filing, will it be ok? whether the signing of Foreign partner is required to be notarized & apostilled? any other way?
Thank You.
Dear All,
One of my clients has executed LLP agreement before incorporation certificate received by LLP.
And has paid 15000 stamp duty.
Can we file Form-3 LLP now with old franking challan?
Thanks in advance.
Yes if supply of such service is under compulsion