sir, dumper purchased including gst paid to supplier and the same given on rental to another customer
pl advise whether gst rate on rent charged to customer
and whether can claim gst credit paid on purchases of dumper
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dumper purchased given on rent
Replies (1)
Procurement of motor vehicle for further supply (includes supply of goods or supply of service) is eligible credit. 100% credit can be taken in the year of acquisition.
Transfer of right to use goods without transfer of title (lease) shall be considered as supply of service. However, the rate of tax is as applciable to the respective dumper (can adopt the rate charges by your vendor).
Monthly tax invoice can be issed for rental charges along with GST.
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