ITC on trucks under GTA SERVICE
Abhishek Sharma (62 Points)
22 April 2024Abhishek Sharma (62 Points)
22 April 2024
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(4804 Points)
Replied 22 April 2024
If GTA provides goods transport service on road to an unregistered individual for personal use only then GTA will be liable to pay GST as a provider of service as because such service is excluded in Notification No. 13/2017- Central Tax (Rate) Dated: 28/06/2017 from specified service for the purpose payment of tax under reverse charge basis under sec 9(3) of CGST Act 2017
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 April 2024
CA Mayank A Jain
(Chartered Accountant in Practice)
(1260 Points)
Replied 23 April 2024
Where the GTA has opted for paying GST under forward charge at the rate of 12%, then the GTA can avail ITC of the GST paid on purchase of truck. The GTA can avail 100% of the credit once the conditions for availement of credit have been satisfied.
Money Money
(413 Points)
Replied 23 April 2024
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India