Sir, I am Transportation i ply my Vehicle and issue credit note on that i Charge 18% GST On RCM,
So in that case if i purchase Vehicle and any equipment for vehicle on that Can i Claim ITC????
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Quick Summary
This discussion clarifies whether transporters can claim Input Tax Credit (ITC) on vehicle and equipment purchases. It explains the different GST payment options available to transporters, including paying 12% forward charge with ITC, 5% forward charge without ITC, or opting for Reverse Charge Mechanism (RCM) where the service receiver pays GST. The key is understanding which option allows for ITC claims.
If you are GTA services provider then you have three option 1/ Charge 12% as forward charge and take ITC 2/ charge 5% as forward charge and not take ITC 3/ without charge GST in sales bill and services recever pay tax RCM badic
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