GST Rebate on premiun bike (4 lak around)
- 620
- 14
-
- Last Comment
My friend has GST registered for her ecom service business and has approx 7-8 lakh in her GST portal.
His brother want to purchase a premium bike costing around 4 lakh using her buisness account and will take GST rebate on it.
will there any issue in it ? can someone pls tell any possible red flags
TIA
- Sort By
Well you can if the vehicle os classified as commercial and purchased for business use only.
4 lakh rebate? Itne me to 5 bike le lunga..xd
4 lakh cost of bike not rebate
Is mentioned premium bike new or used?
new
GST team can come back haunting even after many years with hefty penalty+interest+CrPC
Cant claim it and dont claim it. Cant claim it on vehicles normally. Whats your friends business btw ?
ecom service
Watch this video to get the overall idea about the concept, then consult with your CA and decide:
You cannot claim GST input for vehicles or their parts.
Only possible for specific businesses, like for a dealer, transportation of goods, passenger transport.