GST - REFUND OF GST PAID ON PURCHASE OF TRUCK TO TTRANSPORTERS

How can transporter claim credit or refund of GST paid on purchase of Truck? As there is no liability for GST in case of transporters, they are not eligible for the credit than how they take refund of the GST paid at the time of Purchase of Truck?

 

Replies (2)
Quick Summary
This discussion addresses how transporters can claim a refund or credit for GST paid on truck purchases. While direct refunds might not be available, transporters have two main options. They can claim Input Tax Credit (ITC) and depreciation on the taxable value, or forgo ITC and claim depreciation on the full invoice value. For personalised guidance, contact mrgstconsultancy@gmail.com.

There is no refund in this particular case
Truck in this case its a capital asset you have two options one is to claim itc for that truck and to claim depreciation on taxable value and the second option is leave itc and to claim depreciation on invoice value
contact : mrgstconsultancy @ gmail.com

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