Madam/Sir,
We are private limited company, we had taken a rent a cab service from registered cab service provider with tax charged 12% , Cgst 6% and Sgst 6%.
Kindly advise regarding input credit on this case.
Menu
ITC on rent a car
Replies (2)
As per section 17(5)(b)(I) ITC on renting of vehicles is blocked credit , Input tax credit not available .
If motor vehicle which is being rented is 12 or more seater then credit is eligible. If not credit is not eligible.
Also, to reduce tax costs may look at comparing quotes from other rent a cab providers who charge 5% GST instead of 12%.
Recent Threads
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
- Clarification Required – Section 18 of Wage
- How to split freelance project income with a frien
- 194a for A y 2024-25
- Compensation & Benefits
- SAC code and GST rate transport services for anima
- Section 44AB is Gone — How Different is Tax
- Capital Gains from Cancelled Residential Project
Related Threads
CAclubindia
