we are GTA
we are charging bill with 5% GST.
can we take credut on purchase of truck tyre18 % ?
6 Replies
Hiten Gusani
(Student CA IPC / IPCC)
(34 Points)
Replied 07 January 2018
payment of gst on input can be taken as credit to off set output liability if it is for furtherance of business...
Manas Das
(1431 Points)
Replied 07 January 2018
sir 5% gst on GTA is without itc and under reverse charge. so you cant calim any itc what so ever. but if you are opting forward charge @ 12% on GTA then you can claim itc on purbcahse of truck.
Shwetal S.Oswal
(CHARTERED ACCOUNTANT)
(43 Points)
Replied 07 January 2018
Absolutely correct..you cannot take itc while charging 5
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