Registration / ITC
This query is : Resolved
sankar ponnan
(Querist)
15 August 2020
sir
If a transport co. wants to do an additional business of trading of goods, can it do its business under the same gst number?
If yes, can it avail the ITC of its early purchase of tyres and spares and utilize it against the sale of goods ?
let me know plz
thanks in adv
If a transport co. wants to do an additional business of trading of goods, can it do its business under the same gst number?
If yes, can it avail the ITC of its early purchase of tyres and spares and utilize it against the sale of goods ?
let me know plz
thanks in adv
CA R SEETHARAMAN
(Expert)
15 August 2020
Yes, ITC of tyre and spares can't be availed as transport business exempt from GST.
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