Can we claim ITC on motor vehicles used for Business purpose? Can we claim compensation cess too?if
1. Normal business?
2. What if my business is GTA?
Menu
ITC on Motor vehicle.
Replies (5)
1. if normal business , No.... only in the condition laydown in section 17(5):
(A) further supply of such vehicles or conveyances ; or
(B) transportation of passengers; or
(C) imparting training on driving, flying, navigating such vehicles
or conveyances;
(ii) for transportation of goods;
2. If GTA : yes as per Notification 22/2017 You can take ITC , but you have collect GST @ 12% on your outward supplies
(A) further supply of such vehicles or conveyances ; or
(B) transportation of passengers; or
(C) imparting training on driving, flying, navigating such vehicles
or conveyances;
(ii) for transportation of goods;
2. If GTA : yes as per Notification 22/2017 You can take ITC , but you have collect GST @ 12% on your outward supplies
Good explanation Pankaj ji.
Sir one more thing, If GTA opting for input claim in situations 2 above, give services to another GTA who is paying GST at 5% , then what % of GST to be charged ?
Thank u Pankaj ji.
GTA to GTA is exempted
Recent Topic
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
- Correct way to show income from annuity in ITR
- ITR 3 issues
- What after death of proprietor
Related Topics
CAclubindia
