person giving his taxi's on rent basis.. what rate of gst is applicable..
Replies (2)
Quick Summary
This discussion clarifies the Goods and Services Tax (GST) applicable to taxi hire charges. Service providers have two options: pay 5% GST without claiming input tax credit (ITC), or opt for 12% GST and claim full ITC. The SAC code 9964 applies to passenger transport by motorcab where fuel costs are included in the hire charges.
DESCRIPTION : Transport of Passengers by motorcab (motor vehicle designed to Carry passengers inserted w.e.f 13/10/2017) where the cost of fuel is included in the consideration charged from the service recipient.
GST RATE : GST rate on Cab Services is 5% without ITC. Although, the service provider has an option to pay GST @ of 12% and take benefit of availing full input tax credit.
Leave a Reply
Your are not logged in . Please login to post replies