Is GST input credit given for buying a car on a firm's name?
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Shyamal Modi, Tax Advocate | Financial Advisor | Virtual CFO 
Answered on December 09,2023
Generally, No!
Input Tax Credit (ITC) on purchase of a car even in the name of firm is blocked u/s 17(5) of CGST Act. There are certain exceptions to this, you can read them on my blog.
Depreciation can be claimed if car is purchased in the name of Firm.
To know more about on what other types of transactions ITC is Blocked u/s 17(5), please visit my blog on the same. I have detailed all the conditions where an ITC is blocked and the exceptions to the same where ITC can be claimed in easy-to-understand language.
Blocked Credits under GST | Smart Financial Services (smartfinserv.in)
Regards.
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