A transporter hires his trucks to a GTA (Private Ltd) and receives income by hire charges from GTA. His business receipts is Rs.45 lac in a financial year but faces the net loss due to depreciation for trucks. He files the loss in his ITR. However, he does not register his business under GST Act.
My doubts are, Is it Correct? Is GST registration exempted for truck owner in case of hiring?
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