GST INPUT CREDIT

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Hemkumar

Hemkumar

(Querist)

24 December 2019 One Transporter is purchasing Truck, Whether he can take input credit of GST Paid on Truck purchased if he is not charging GST on forward charges basis (service receiver is liable to pay gst under rcm basis) ??
is there make it difference if after wards transporter started to charge gst on forward basis (i.e. truck purchased in january but gst on transportation income charged on forward charge basis from April ) can we take credit of gst paid on purchase of truck ?

in both the above two situation as per my opinion he can not get credit of GST Paid on purchase of truck

Rajamahendra Varma M.B.A.,LL.B

Rajamahendra Varma M.B.A.,LL.B (Expert)

25 December 2019 If it is commercial vehicle and if you availed ITC in your books, then you can utilize the same when ever you do forward billing to your customers. If it is capitalized the vehicle including GST value, then you can't avail & utilize the ITC in future. Note that you can avail ITC only when you provide taxable supply. Otherwise you can't avail ITC.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)

25 December 2019 In my opinion ITC can be availed by GTA only on forward charge basis i.e. 12% GST. Option to avail forward or reverse charge cannot be changed in between a financial year in my opinion.

Rajamahendra Varma M.B.A.,LL.B

Rajamahendra Varma M.B.A.,LL.B (Expert)

25 December 2019 Agreed with the additional points of Mr.CS Abhishek Goyal.

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