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GST on Transportation of pessenger (i.e. Buses)
What is the gst rate applicable to the transportation of pessenger by the buses(whether AC and Non ac) having seating capacity more than 13 persons and can i get ITC of vehicle purchased for providing such services?
Replies (1)
It's @ 5% on FC without ITC & @ 12% on FC with ITC
Note ;
In term of Notification 22/2019 CT (r) :
Services provided by way of
renting of a motor vehicle
provided to a body corporate ,where supplier of services is other then body corporate & opted GST FC @ 5% with limited ITC & the Recepient is Body Corporate , then RCM is applicable & Recepient is liable to deposit GST under RCM
Note ;
In term of Notification 22/2019 CT (r) :
Services provided by way of
renting of a motor vehicle
provided to a body corporate ,where supplier of services is other then body corporate & opted GST FC @ 5% with limited ITC & the Recepient is Body Corporate , then RCM is applicable & Recepient is liable to deposit GST under RCM
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