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refund of itc on commercial vehicle
i am a transporter, i purchased a heavy vehicle and cliam itc of the said vehicle. since i m a transporter i dont have any output. whether i can claimed refund of the said amount.
Replies (6)
No... Refund not available.
Yes, refund not allowed.
then whether i can adjust itc with output liability by raising bills charhing gst on trading activity
Yes, you can firstly. But in 60 months, you have reverse ITC in the ratio of exempted supply to total supplies. For this, you should take care of rules regarding that. Consult your CA OR Advocate before that.
no you cannot claim refund
I think, ITC also not available if You are transporter. Bcoz, Your service (Transporting) is exempted supply under GST.
If Outward supplies are exempted then no way for claim ITC.
If Outward supplies are exempted then no way for claim ITC.
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