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Rent a car input credit

ITC / Input 308 views 3 replies
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INCOME TAX PRACTITIONER
1329 Points Joined August 2012

IS RENT A CAR PURCHASED FOR CAB SERVICE MEANS THE TAX IS ELIGIBLE FOR ITC OR NOT?

 

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On 06 July 2019 at 16:39 Report
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student
408 Points Joined May 2014
if outward supply of cab service is taxable only then credit of input tax paid is allowable
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On 06 July 2019 at 17:21
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Student CA CPT
22 Points Joined June 2014
You can eligible for ITC, provided that you should not opt for the 5% rate of tax on outward liability
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On 06 July 2019 at 20:03
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15 Points Joined November 2017
On smae line of business you can bill for 5% also and avail ITC
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On 07 July 2019 at 13:53

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