In the case of renting of motor vehicle (SAC 9966), the taxpayer opted the tax rate from 5% (not eligible for ITC) to 12% (eligible to claim ITC) from FY 2023–24, so can he claim the ITC on input goods held in stock and capital goods?
If yes, then through which form?
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GST rate from 5 to 12
Replies (2)
No.... he cannot .
As once you have opted for 5% WITHOUT ITC , you cannot utilize the ITC lying in your credit ledger.
As once you have opted for 5% WITHOUT ITC , you cannot utilize the ITC lying in your credit ledger.
Thanks Sir.
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