Input tax credit on passenger transport service
This query is : Resolved
26 March 2018
Mr X is providing passenger transport services and Charge GST @ 5%
He bought bus for the same purpose and paid gst of 20 lacs on same.
Does he is eligible for taking credit of gst paid on bus purchased even though tax paid by him is at 5%
5% rate read as: Transport of passengers, by Air conditioned contract/stage carriage other than motorcab - 5%No ITC
and negative list of input credit reas as: Cases when ITC is not available under GST
(1) Motor vehicles & conveyances EXCEPT : If you are providing
transportation of passengers then ITC will be allowed on the vehicle
purchased.
He bought bus for the same purpose and paid gst of 20 lacs on same.
Does he is eligible for taking credit of gst paid on bus purchased even though tax paid by him is at 5%
5% rate read as: Transport of passengers, by Air conditioned contract/stage carriage other than motorcab - 5%No ITC
and negative list of input credit reas as: Cases when ITC is not available under GST
(1) Motor vehicles & conveyances EXCEPT : If you are providing
transportation of passengers then ITC will be allowed on the vehicle
purchased.
26 March 2018
Not eligible for ITC on bus purchase as GST 5% charged on out put service. GST tariff for this service is 5% with no ITC.
ITC can be claimed if 12% GST is charged at par with transporters.
ITC can be claimed if 12% GST is charged at par with transporters.
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28 March 2018
Thank You very much sir.
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