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RENT RECEIVED BY PETROL BUNK OWNER ON TANKER FROM IOC


GANGI NAIDU YANAMANDALA   27 January 2020

GANGI NAIDU YANAMANDALA

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Dear sir /Madam

one of my client having PETROL Bunk
he RECEIVED Rent from INDIAN OIL COMPANY for using his Tanker for transportation of PETROL from storage point to Petrol Bunk...but our didn't raise any invoice on IOC ,Company transferred monthly to BANK account.
Amount is not a fixed one depending on Tanker capacity.

while filing GSTR-9 And 9-C where we have report and reconcile..
But in Audited Financial statements it's shown P& L as separate item Tanker Rent...
How to declare in GSTR-9 & 9C

THANKS IN ADVANCE

Anup Agarwal   27 January 2020

Anup Agarwal

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In short you have given service of Hiring of motor vehicle.
GST is applicable for the same at the rate of 18%.

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RAJA P M ("Do the Right Thing...!!!")     27 January 2020

RAJA P M
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Yes... I agreed to Mr Anup Agarwal.,

@ Mr GANGI NAIDU.,

If You are giving the vehicle to rent then GST applicable as per above said reply...

You can show the same in Your Taxable value then only Values are matching with GSTR...

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Pankaj Rawat (GST Practitioner)     28 January 2020

Pankaj Rawat
GST Practitioner 
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Services by way of transportation of goods by road other than by a GTA or a courier agency are exempt from tax under entry no. 18 of Notification no. 12/2017-Central Tax (Rate) .

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RAJA P M ("Do the Right Thing...!!!")     28 January 2020

RAJA P M
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Dear Pankaj Rawat Ji.,

Yes... As per Your said notification Transportation of goods by road is exempted...

But,

Note here not given transport service. Here vehicle give to RENT. this not under transportation...

Give Your opinion please...


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