My query is one of my client is a Tour Operator and presently is in the GST Rate of 5 % without ITC, now my client is purchasing a cars for expansion for business and paying GST for purchase of car almost 3lakhs ,
Can he opt for 18% with ITC now, what is the time limit and when can he opt if so what is the procedure to do so
18 August 2022
Once the supplier opts for payment of GST @ 5% without ITC, he has to continue under the same option throughout the financial year. He can change the scheme only in the next financial year.
CAclubindia
