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ELIGIBLE ITC
I am having tours and travel business (I owned 3 cars). I GAVE MY VEHICLES FOR RENT PURPOSE PROVIDING DRIVER. Presently I charged 5% GST without ITC. In the 25th gst council meeting, allow ITC of input services in the same line of business at the GST rate of 5% in case of tour operator services.. What is the meaning of same line of business?? CAN I ELIGIBLE TO CLAIM ITC OF REPAIRS AND SERVICES, INSURANCE OF CARS???
Replies (2)
You can claim ITC on repairs and insurance services availed,
In same line of business means
if you are running a car showroom so you purchase cars from manufacturer in this you can avail ITC on GST charged by manufactuerer
but in other business you are not allowed to take ITC of such vehicle purchase
In the 5% category, ITC AVAILABLE??
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