PURCHASE BUS TEMPO TRAVELLER DATE 05/02/2019 STATE MAHARASHTRA
Present GST Rate 5% Renting motorcab NOT ITC HSN code 996601
FUTURE MEANS
AFTER 3MONTH GST RATE 12%
If fuel cost is borne by the service recipient then12% GST will apply
(CHANGE GST RATE 12% AFTER 3MONTHS ITC How to claim input credit under GST?)
Purchase Bus
Amount : ₹ 1000000
CGST 6.0% : ₹ 60000.0
SGST 6.0% : ₹ 60000.0
Total GST 12.0% : ₹ 120000.0
Total Amount : ₹ 1120000 [GST Inclusive]
Possible OR NOT POSSIBLE
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GST RELATED BUS PURCHASE
Replies (4)
If you are Tour agency. You can claim ITC only Paying 12% GST all the time.
Another Option, If you want to pay 5% GST. You shouldn't Claim ITC on this Purchase. all the time You should Pay only 5%.
You cannot Shift from one Tax Rate to Another.
Also an important. Please understand these Below, you misunderstand with SAC Codes.
9964 - Transport of passengers by motorcab(motor vehicle designed to Carry passengers inserted w.e.f 13/10/2017)where the cost of fuel is included in the consideration charged from the service recipient.
996601 - Rental services of road vehicles including buses, coaches, cars, trucks and other motor vehicles, with or without operator.
other information
Agree with above view
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