REGARDING ITC


This query is : Resolved 

Quick Summary
A petrol pump owner, whose business is outside the GST regime, purchased a tanker truck and had GST deducted at source. They are inquiring if they can claim this deducted GST as a refund, especially since they can claim depreciation on the full value including GST for Income Tax purposes. The consensus is that the supplier's deduction of GST TDS might be incorrect as the petrol pump owner is not a government authority.

(Querist)
31 August 2020 I am dealing with petrol pump business, which is a non-GST Supply. Recently I have purchased an oil Tanker Truck for the same business purpose and the company from which I have purchased it has deducted GST on source. Can, I claim the same as refund.

31 August 2020 You can claim depreciation under Income Tax on full value incld GST Paid.

sumaira bhat (Querist)
31 August 2020 No Can I claim the TDS in GST. If yes then how?

01 September 2020 I dont think deduction of GST TDS by your supplier is correct as your are not Govt.authority/organisation.


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