Question

A company has purchased a bus for its staff with capacity of 25 seats for Rs. 25,00,000 plus GST 28%. It has claimed depreciation on Rs. 25,00,000 under Income Tax Act, 1961. The Company _____ .
A. Will get credit of GST paid on purchase of a staff bus
B. Will not be allowed to take ITC
C. ITC on purchase of motor vehicle, conveyance etc. is not allowed
D. 50% ITC is allowed​

Answer 1

Answer:

One of the fundamental features of GST is the seamless flow of input credit across the chain (from the manufacture of goods till it is consumed) and across the country.