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Sonu Khandare   21 November 2020

Rent a cab service

Company is providing rent a cab services paying GST @ 5 %. Are they eligible to take input credit on inward supplies and services?


 6 Replies

JATINDER KUMAR

JATINDER KUMAR (Accountant)     21 November 2020

You can not claim ITC on Inward supplies and services (Pay GST @ 5%)
Vijayprakash P

Vijayprakash P   21 November 2020

ITC on renting a cab is specifically blocked u/s 17(5) of GST Act.
JATINDER KUMAR

JATINDER KUMAR (Accountant)     21 November 2020

If you want to claim ITC, GST rate is 12%
Shivam RC

Shivam RC (Student)     21 November 2020

Since the Company has opted to pay tax @ 5%, they are not eligible to claim ITC on their inward supplies.
Pankaj Rawat

Pankaj Rawat (GST Practitioner)     22 November 2020

In term of Notification 11/2017 CT , GST 5% on FC is available from same line business.
Pankaj Rawat

Pankaj Rawat (GST Practitioner)     22 November 2020

Means you can claim ITC only on inward supply from same line business


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