Gst liability and itc on car given to ola and uber.
This query is : Resolved
CA GAUTAM JAIN
(Querist)
12 November 2018
Suppose Mr. A a GST registered taxable person had purchased a car for Rs 5,00,000/- and paid 28% GST Rs 1,40,000/- on it for generating income through OLA and UBER, then will he be able to claim ITC of GST paid on vehicle purchase?
Thereafter Ola and uber use to take suppose 20% as commission of fare and rest is given to driver, Then whether Mr. A will have to pay GST on full fare or OLA/UBER will pay GST on RCM basis to govt.
If OLA/UBER will pay under RCM basis to govt, then how Mr. A will classify this supply of service under GST Return?
Thereafter Ola and uber use to take suppose 20% as commission of fare and rest is given to driver, Then whether Mr. A will have to pay GST on full fare or OLA/UBER will pay GST on RCM basis to govt.
If OLA/UBER will pay under RCM basis to govt, then how Mr. A will classify this supply of service under GST Return?
CA R SEETHARAMAN
(Expert)
13 November 2018
OLA/UBER will pay GST under RCM basis to govt. Clasify the service under RCM GST payable by service receiver.
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CA GAUTAM JAIN
(Querist)
13 November 2018
Thanks for Reply Sir...
So, Can i take credit of car purchased against GST liability of my other business?
So, Can i take credit of car purchased against GST liability of my other business?
CA R SEETHARAMAN
(Expert)
13 November 2018
No you can't take credit on car purchase.
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