Gst credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 June 2017
Section 17(5) of the Central Goods and Services Act, 2017 provides that input tax credit in respect of the following shall not be available-
(a) motor vehicles and other conveyances Section 17(5) of the Central Goods and Services Act, 2017 provides that input tax credit in respect of the following shall not be available-
(a) motor vehicles and other conveyances except when they are used-
(i) for making the following taxable supplies, namely-
(A) further supply of such vehicles or conveyances; or
(B) transportation of passengers; or
(C) imparting training on driving, flying, navigating such vehicles or conveyances;
(ii) for transportation of goods;
The while notifying the gst rates on GTA why did they say that on ITC is available for gta?Can't we claim any credit for GTA for the tax paid on reverse charge
(a) motor vehicles and other conveyances Section 17(5) of the Central Goods and Services Act, 2017 provides that input tax credit in respect of the following shall not be available-
(a) motor vehicles and other conveyances except when they are used-
(i) for making the following taxable supplies, namely-
(A) further supply of such vehicles or conveyances; or
(B) transportation of passengers; or
(C) imparting training on driving, flying, navigating such vehicles or conveyances;
(ii) for transportation of goods;
The while notifying the gst rates on GTA why did they say that on ITC is available for gta?Can't we claim any credit for GTA for the tax paid on reverse charge
24 June 2017
5% GST rate is fixed considering ITC on petrol and diesel which is outside the GST purview. Hence no ITC gor GTA. But ITC is available for any body who pays under reverse charge.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Regarding TDS Applicability For Director Remuneration
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- Multiple trade mark
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
