hire income from agriculture farm equipments is taxable or not in indian gst
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Hire income from agriculture farm equipments is taxable or not in indian gst
Replies (2)
It is exempt vide notification number 12/2017 S No. 54(d)
Renting/leasing of agricultural machinery/equipment is exempted from GST vide Notification No.12/17-CT(R) dated 28.6.17 (conditions mentioned therein are to be fulfilled)
Since agricultural machinery/equipment is to be used for supplying exempted service, ITC is not admissible. If used for taxable output supply of service, ITC is admissible.
Since agricultural machinery/equipment is to be used for supplying exempted service, ITC is not admissible. If used for taxable output supply of service, ITC is admissible.
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