Menu
ITC for Transporter
Is Transporter (GTA) is eligible for claiming refund of ITC on purchase of Truck which is used for transportation of Goods and any type of conditions which he will have to follow. Pls resolve the doubts.
Replies (3)
Hi please read section 17(5).
Transporter is eligible for ITC of truck , if the purchased truck is being used in course or furtherance of business.
However, Refund can not be Claimed as it will neither be zero rated supply nor will be falling in inverted tax structure.
GTA can avail and utilize ITC for payment of Output GST liability.
However, Refund can not be Claimed as it will neither be zero rated supply nor will be falling in inverted tax structure.
GTA can avail and utilize ITC for payment of Output GST liability.
good clarification and information about
Recent Topic
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
- Real operational bottlenecks after firms use Tally
- Purchase return under gst
- Long Term Capital Loss - cannot be carried forward
- Cross-utilization of ITC between Trading and Resta
Related Topics
CAclubindia
