16 October 2019
Thanks for reply madam . Still it is not clear , In the Notification No 22/2019 in column no 3 mentioned as "any person other than Body corporate paying Central Tax @ 2.5% on Rental of motor vehicle with Input Tax Credit only of input service in the same line of Business" . What is its meaning? Why such conditions is put in notification? In view of the above provisions I have taken guidance to understand it's true facts. kindly explain in detail with point mentioned above.
17 October 2019
It means if a service provider ( Mr X ) rented his vehicle to the person (Mr. Y ) who is in the same line of business ( business of providing vehicle on hire ) Mr. X is eligible for ITC ( provision is in the same line of Sec 17(5) of block credits. For further interpretation of the notification, refer:- https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=8768
18 October 2019
Thanks for reply madam, but regret I could not get the answer, If Body corporate hire Vehicle, not is same line, from (a) From registered person with fuel / without fuel than RCM % ? (b) from. URD with fuel/ without fuel - than RCM % ? Kindly advise please