CAN WE CLAIM ITC ON MOTOR VEHICLE PURCHASES WHEN TCS IS PAYABLE? (purchased by GTA for tranportation of goods)
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Can we Claim ITC on motor vehicle purchases when TCS is payable?
Replies (4)
If GTA pays GST @ 12% on forward charge basis, then only he is eligible to avail ITC on motor vehicle.
Yes if he is register and not covered under RCM or 5% tax rate.
claim on load carrier only not for own use of car or any two wheelers
Yes, credit shall be available for GTA. However, such GTA must be covered under forward charge and pay GST @ 12%.
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