03 December 2021
Dear Sir Last year in apr-2020 we started a business of trading of food products (supply namkeen) and for the same, we registered under GST purchase material from direct factory and sold in small markets. after 2-3 months we purchased a loading vehicle for the supply of goods.
and 2 months before we stopped this work due to sales were too low and monthly expenses is high.
last attached loading vehicle in another company for a monthly basis issued GST invoice to the company.
so please guide us can we convert my business nature from food to transportation on existing GST no. (for transport bills we use only vehicle-related ITC).
28 December 2021
Where goods vehicle used for further supply, i.e. supply of taxable goods or services then yes eligible. In your case renting of vehicle or use to transport taxable goods - eligible ITC.
CAclubindia
