Gst liability and itc on car given to ola and uber.
This query is : Resolved
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?
13 November 2018
OLA/UBER will pay GST under RCM basis to govt. Clasify the service under RCM GST payable by service receiver.
Message likes :
1 times
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?
13 November 2018
No you can't take credit on car purchase.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- 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
- Regarding TDS Applicability For Director Remuneration
- Annual return in Gst
- Value of property in capital gain
- TDS APPLICABILITY......
- Copyright software
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
