Rent a cab service

21 November 2020

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

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6 Replies

JATINDER KUMAR (Accountant) (3662 Points)
Replied 21 November 2020

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

Vijayprakash P (1313 Points)
Replied 21 November 2020

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

JATINDER KUMAR (Accountant) (3662 Points)
Replied 21 November 2020

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

Shivam RC (Student) (23683 Points)
Replied 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 (GST Practitioner) (55030 Points)
Replied 22 November 2020

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

Pankaj Rawat (GST Practitioner) (55030 Points)
Replied 22 November 2020

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

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