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)
Quick Summary
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 Topics :
- Query on FCTRS
- APPLICABILITY AND BREAKDOWN OF GST COMPLIANCE ON S
- Advance for supply of goods
- Question for members: how do you manage client doc
- Clarification Required on Invoicing and Receipt of
- SEBI Registered VS NSDL Registered RTA
- Income tax or capital gain tax for Resident Indivi
- PCIT-1 Thane Email address
- CA Fees deduction for non audit case allowed?
- 5th Letter PAN Mismatch with Surname issues still
Related Topics :
CAclubindia
