03 January 2020
As per the amended notification issued recently, 1) if a supplier charges 5% GST on renting of motor vehicle, the body corporate need to inform him not to charge since body corporate is required to pay under RCM? Or 2) the supplier can charge 5% but still body corporate need to pay under RCM? If the second situation is valid, will it not be double taxation since body corporate is not eligible to claim ITC on this service being under negative list?
CAclubindia
