a truck owner let out vehicle to GTA service providers
the truck owner collecting GST @ 18% and remit to government.
now the question is
the truck owner claims ITC on truck repair and truck insurance.
can you please guide will this ITC allowed or denied under section 17(5)
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ITC availability on truck owner
Replies (3)
Quick Summary
Sec 17(5) to be understood properly deals with blocked credit.
Truck driver has two option to charge GST
1) Charge gst @ 12% and take the ITC
2) Paid gst under RCM @ 5% without taking the ITC.
In your what option the truck driver has availed?
1) Charge gst @ 12% and take the ITC
2) Paid gst under RCM @ 5% without taking the ITC.
In your what option the truck driver has availed?
Truck operator contract details
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