360 degree analysis of block credit in relation to vehicle , vessels and aircraft includes amendment which are effective from 01.02.2019 in their relation
1. BLOCK CREDIT U/S 17(5)
related to motor vehicle, vessels and aircraft
CA SURBHI CHAUDHARI
2. FOR TRANSPORTATION OF
GOODS
TRANSPORTATION OF
PASSANGERS
APPROVED SEATING CAPACITY
>=14 (including driver)
APPROVED SEATING
CAPACITY<=13(including driver)
ITC
ALLOWED
ITC
ALLOWED
ITC ALLOWED ( subject to the
condition specified in sec 17(5)(a)
3. Conditions specified in Sec 17(5)(a)
Further supply of such motor vehicle
Transportation of Passenger
Imparting training on driving of such motor vehicle
1.
4. Further supply of such vessels and aircraft
Transportation of passenger
Imparting training on navigating such vessel
Imparting training on flying such aircraft
Transportation of goods
5. ITC ALLOWED ONLY IN
BELOW CASES
If used for purpose
specified in clause (a) and
(aa)
Received by taxable
person engaged in
manufacturing of above
Received by general
insurance service provider
in respect of above
6. ITC ALLOWED
Exception u/s
Sec 17(5)(b)
If Motor vehicle ,
vessels and
aircraft used for
purpose specified
in clause (a) and
(aa)
Where it is
obligatory for an
employer to
provide to its
employees
When it is used by
registered person
as an element of
composite or
mixed supply
When it is used by
registered person
for making
outward supply of
the same category
of goods or
services
