one of my friend engaged in transport business hvng 3 tempo planning to register under gst will it get itc paid on purchase of tempo ??
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Quick Summary
This discussion clarifies whether a transport business registering under GST can claim Input Tax Credit (ITC) on the purchase of tempos. Generally, ITC is available for inputs and capital goods. However, for newly registered businesses, ITC on capital goods is restricted unless they charge 12% GST on their outward supplies.