Whether income received from renting of truck ( not GTA) is taxable under gst?
If yes, please specify the rate.
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Gst on movable property
Replies (2)
Quick Summary
18%. SAC code you can find
"TAXABLE...."
Services by way of giving on hire of Trucks to a Goods Transport Agency ( GTA ) for transportation of goods is "EXEMPTED" from GST vide Notification No. 12/2017 - Central Tax ( Rate ), dated 28th June 2017. The exemption is limited only to GTA.
Since in your case the truck is being given on hire to a person other than GTA, the income received from letting out trucks is fully taxable under GST @ 18% under SAC Code 996601.
Regards,
Shivam RC.
Services by way of giving on hire of Trucks to a Goods Transport Agency ( GTA ) for transportation of goods is "EXEMPTED" from GST vide Notification No. 12/2017 - Central Tax ( Rate ), dated 28th June 2017. The exemption is limited only to GTA.
Since in your case the truck is being given on hire to a person other than GTA, the income received from letting out trucks is fully taxable under GST @ 18% under SAC Code 996601.
Regards,
Shivam RC.
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